Beware" terms and conditions."Mortgage re arrangements.

C

cearnog

Registered User
Messages
11
My lender recently offered me a reduced payment on my mortgage for the forseeable future.I POSTED out the agreement and on it was a condition.
we"the lender" reserve the right to call to ANY member of your family at their place of work or residence, should i fail to keep the agreement"
Watch out for this clause. Sign the agreement subject to removal of that clause and get a witness preferably a solicitor to witness it. Thats what i did and i got the clause removed.
 
cearnog said:
My lender recently offered me a reduced payment on my mortgage for the forseeable future.I POSTED out the agreement and on it was a condition.
we"the lender" reserve the right to call to ANY member of your family at their place of work or residence, should i fail to keep the agreement"
Watch out for this clause. Sign the agreement subject to removal of that clause and get a witness preferably a solicitor to witness it. Thats what i did and i got the clause removed.
Click to expand...
Surely that clause violates the data protection act as they can't discuss the account with anyone except you?
 
Moral Ethos said:
Surely that clause violates the data protection act as they can't discuss the account with anyone except you?
Click to expand...

I would presume that this letter signed by you is giving them access to relatives and is likely to be attached to other conditions. Anyway NO-ONE should sign a letter with this clause in.
I'll be writing to the Financial Regulator and Data Protection if it happens to me!
 
cearnog said:
My lender recently offered me a reduced payment on my mortgage for the forseeable future.I POSTED out the agreement and on it was a condition.
we"the lender" reserve the right to call to ANY member of your family at their place of work or residence, should i fail to keep the agreement"
Watch out for this clause. Sign the agreement subject to removal of that clause and get a witness preferably a solicitor to witness it. Thats what i did and i got the clause removed.
Click to expand...


Who is your lender? (it isn't defamatory to name the lender, in case you're worried, nor will the information compromise the identity of any individual...) Can you give us the exact wording of the clause?
 
Name of lender is first active, now ulster bank. The wording of the clause is exactly printed as above.
 
You must log in or register to reply here.
Back
Top