Loan payments from another account?

never-in-doubt

YorkshireBoy wrote: »

But see here...

The DD form will require the account holders name. Don't you think it'll look odd if this is different to the loan applicant's name?

The only way, if indeed LTSB will allow it, is to ask for a sort code and account number (and also a reference?) so that the OP (or more accurately her mother) can pay by SO BACS/FP transfer instead.

Reading into this, legally they left a loophole:

quote 'once your personal loan application has been accepted we will send you a loan agreement and Direct Debit forms for your loan repayments'

If this was a condition of the loan it'd have to say

'once your personal loan application has been accepted we will send you a loan agreement and Direct Debit forms for your loan repayments. As it is a condition of the loan to repay from an account held with us, the details cannot be amended without prior authorisation from the bank'

I do agree it may look 'odd' but nothing wrong with saying to the bank, my mum want to pay it for me or just close the Lloyds account and move banks if it matters to the OP that much.... lol

Forris

I can tell you from personal experience, they really don't give a %$*& where the payments come from (as long as it's legal!). I have a loan with a major provider which I took out for my brother as he needed a new car. The DD comes from his girlfriends account. The company are aware of this, and they really don't care!