Go through on pre-approved joint loan without consent?

Discussion in 'The Buying & Selling Process' started by Grey Smith, 17th Apr, 2019.

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  1. Grey Smith

    Grey Smith New Member

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    Hi
    Is it possible for one individual with a conditionally approved home loan (signed by both) to go through and purchase a property without the others consent. The deposit in this case would come entirely from the individual purchasing.
    I was under the impression that the final loan would have to signed off by both.
    Thank you in advance
     
    Grey Smith, 17th Apr, 2019
    #1
  2. jprops

    jprops Well-Known Member

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    Pre-approval means nothing.
     
    jprops, 17th Apr, 2019
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    Archaon likes this.
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    how will the mortgage be signed?
     
    Terry_w, 17th Apr, 2019
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  4. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    The loan contracts need to be signed by both parties.

    The transfer of land and registration of mortgage need to be signed by both parties and witnessed by a third person.

    So the answer is no, it can't be done without consent of both people, unless one forges the other's signature and some documents are not properly witnessed.
     
    Peter_Tersteeg, 17th Apr, 2019
    #4