EBS Letter of Agreement

B

Bedlam

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Hi

The following text is taken from the above and I am wondering would a Personal Injury Compensation payment fall into this. I feel not as it is a payment for loss of income and injury. Anybody come across this before and have views / opinions on it please?

“You must notify the Lender immediately in writing, if you receive any Lump Sum payment. For the avoidance of doubt an Unexpected Lump Sum payment may include but is not limited to; Inheritance, Bonus etc.”

Thanks

Bedlam
 
Why are you not paying your full mortgage? Presumably due to a loss of income?

So of you are getting a lump sum payment to compensate for a loss of income, then, of course, you should notify them and pay it off the warehoused amount.

Brendan
 
Hi Brendan,

Thanks for the reply and I note your advice, my question relates to the interpretation of the wording used and whether it would be expected of you by EBS to declare the compensation.

Thanks

Bedlam
 
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