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Calling In Loans

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I want to know under what circumstances our lenders can call in debts.

Usually this is where there are chronic repayment defaults or bankruptsy.

What I really want to know is whether they are allowed to call in a debt from a debtor who has never missed any mortgage repayments ? A possible scenario being if a bank gets into difficulties.

If this is the case, then I would be rather wary of taking out a mortgage in the future given the problems we face.

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I want to know under what circumstances our lenders can call in debts.

Usually this is where there are chronic repayment defaults or bankruptsy.

What I really want to know is whether they are allowed to call in a debt from a debtor who has never missed any mortgage repayments ? A possible scenario being if a bank gets into difficulties.

If this is the case, then I would be rather wary of taking out a mortgage in the future given the problems we face.

I cannot answer your specific question re: Banks going down, but off the top of my head, I would have thought it depends on the contract you have signed with the bank. I would have thought that if you keep paying you repayments, you are keeping to your side of the contract & the bank cannot do anything.

No doubt some othe hpc member will have an answer.

Theres a thread here with a lot of links on debt advice generally http://www.housepricecrash.co.uk/forum/ind...?showtopic=7454

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I cannot answer your specific question re: Banks going down, but off the top of my head, I would have thought it depends on the contract you have signed with the bank. I would have thought that if you keep paying you repayments, you are keeping to your side of the contract & the bank cannot do anything.

No doubt some othe hpc member will have an answer.

Theres a thread here with a lot of links on debt advice generally http://www.housepricecrash.co.uk/forum/ind...?showtopic=7454

thanks for that. i will have a look through.

to clarify my position, i am not an OO at the mo. i am scared of buying into the market at a later date if i run the risk of having my mortgage debt called in by a struggling lender regardless of my repayment record.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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