Lost loan agreement

petermb_2

BNM wrote: »

Thanks for your help on this is this still the case even though I took the loan out in Sept 2007, and what do you suggest I do next please???

That is down to you. The point is that you now have the choice to repay it as normal or not as the case may be. The lender may wish to mark up your credit record as a default.
Personally, I dont think they can legitimately as the loan is unenforceable but they probably will just the same. So you do what you feel you must really

BNM_2

Ok thanks for your help on this one I'll let you know what happens if you like
Cheres BNM

Andymartin

Hi.
I have a commercial mortgage with a high street bank and a couple of business loans and a couple of personal loans on the business. These have been running for about 5 years and never missed a payment. The bank have recently called all the loans in, including the mortgage. I have requested the loan agreements, but it appears the bank may have lost some of them, and want to put 'something' together for me to sign. I have sent them a letter citing the consumer act 77, which I found on this blog. Thing is, does it cover business loans as well as personal loans ?

jonesMUFCforever

Andymartin wrote: »

Hi.
I have a commercial mortgage with a high street bank and a couple of business loans and a couple of personal loans on the business. These have been running for about 5 years and never missed a payment. The bank have recently called all the loans in, including the mortgage. I have requested the loan agreements, but it appears the bank may have lost some of them, and want to put 'something' together for me to sign. I have sent them a letter citing the consumer act 77, which I found on this blog. Thing is, does it cover business loans as well as personal loans ?

Start a new thread.
The information here is out of date, lenders are now allowed to issue reconstituted loan agreements.
If you have a commercial mortgage then they can sell your property from under you - so get talking to the lender not just look for an escape clause.