A mortgage deed is a formal, legally binding document that confirms you are entering into a contract with your mortgage provider, secured against your property.
To be a deed a document must:
- Be in writing
- Make clear that it is intended to be a deed
- Be validly executed as a deed
To be validly executed as a deed, each individual must sign the document in the physical presence of a witness. The witness must be an independent person such as a friend, neighbour or work colleague. They cannot be a relative, nor be another party to the deed. The witness must also sign the deed and enter their full name and address.
The witness should not be any younger than 18, should it later prove necessary to verify the circumstances under which the execution took place and to avoid any subsequent challenge as to the witness’ reliability or mental capacity based on their age.
The same witness may witness each individual signature, but each signature must be separately witnessed.
Finally, the mortgage deed must be left undated. The date will be entered by your conveyancer once completion has taken place.
For more information or advice on signing a mortgage deed, get in touch with us today by making an online enquiry, or by calling 01733 346 333.