Any property lawyers about?

[TheComeToBedEyesOfMrTumble]

DH & I are buying a house. For various reasons around my very very bad credit I won't be on the mortgage or the deeds until we remortgage in 2 years time. I've been asked to sign something by the lender & I wonder if someone could clarify this point to me?

"that any rights or interests that the occupier may have in the property now or in the future will be postponed and will be subject to the lender's rights and powers under the mortgage;"

To clarify, we are married, & DH has sufficient insurance that if he fell under a bus I could pay off the mortgage outright. Am I signing away any rights at all by signing this form?

Thanks for your help

I think it means that they have first charge over the property so it is an acknowledgement that the mortgage debt needs to be cleared before you could benefit from the proceeds of a sale.

Basically this ensures that the lender can repossess the house if you and your DH fail to keep up the payments. The lender needs this to ensure that you can't stop them from repossessing the house. If you don't sign it they won't lend you the money.

Thank you both! I just wanted to ensure that I wasn't signing away any rights to the house at all in the event of death/divorce, looks like its ok to sign!