I've fixed and re-fixed several times with Bank of Ireland. Correspondence comes jointly addressed to my wife and I to one address. For every re-fixing the bank needs both signatures as it is a joint mortgage. AFAIK lenders won't send to separate copies in these circumstances.Now Mary wants to fix the interest rate ahead of the upcoming downturn but the bank is asking for their addresses and if they still live together.
Anyway, if Tim is co-operative Mary can just sign the form to fix a rate, post it to him abroad, he then signs and posts it back directly to the lender.
I doubt that they can even tell. Most banks' systems are not well joined up.I wonder if the current mortgage is with the bank Tim does (or did) his day to day banking with and they are aware he is no longer in the country?
Perhaps, but when reviewing an application for a change in conditions made by one of two parties to the loan, I'm sure they'd review the files which would contain the relevant details.I doubt that they can even tell. Most banks' systems are not well joined up.
It’s hard to trust banks these days!
No both signatures could be provided my question was why they want clarification of where both parties live.So you would trust them to give a top-up to one of the joint borrowers with only one signature?
You would trust them to switch to interest-only with only one of the signatures?
Brendan
Thanks for your reply the court agreed maintenance helps the the mortgage as she has the children full time and raising a mortgage on her own isn’t possible.Both are mortgage holders and both must seek to fix the mortgage rate.
It would be odd for her to apply on her own.
The fact that they have split up would not be a reason for them not to fix the mortgage rate.
But they will insist on them jointly applying for a fixed rate.
There is no reason for her not to tell the bank that they have split up.
The bank clearly has information that they have split up and will want to add his address to their records to notify him of changes to the mortgage.
She should do so.
If her income is sufficient to cover the mortgage, she should apply to have him removed from the mortgage to save this messing.
Brendan
Thanks for your reply. She’s not in a position to raise a mortgage. The online form also asks for info on where both parties live so l was wondering was it a standard question.Both are mortgage holders and both must seek to fix the mortgage rate.
It would be odd for her to apply on her own.
The fact that they have split up would not be a reason for them not to fix the mortgage rate.
But they will insist on them jointly applying for a fixed rate.
There is no reason for her not to tell the bank that they have split up.
The bank clearly has information that they have split up and will want to add his address to their records to notify him of changes to the mortgage.
She should do so.
If her income is sufficient to cover the mortgage, she should apply to have him removed from the mortgage to save this messing.
Brendan
I don’t think so and the online form requires the same informationI wonder if the current mortgage is with the bank Tim does (or did) his day to day banking with and they are aware he is no longer in the country?
Unfortunately she’s not in a position to raise a mortgageMortgage in both names so any modifications needs to be signed off by both parties.
Can she take over the mortgage into her own name at this point?
Ah, so it was a question on the form rather than the bank acting on suspicions!I don’t think so and the online form requires the same information
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