"All Monies Charge" Mortgage

laser2000

Are the banks obliged to notify you that a mortgage is an "All monies charge" before you you start paying the bank fees and valuations fees?


Argentum

Senior_Paper_Monitor

What do you mean by bank fees ? Presumably - application or arrangement fee ?

You should recereceive a KFI which will spell out the terms of a mortgage before any application (so ahead of both sets of fees mentioned above).

I would assume that this has occured when arranging a mortgage through 'your own' bank with whom you may have other debts (overdraft/loan/business loan etc) or accounts (perhaps a business account). Even so I would consider any such term should be declared in the KFI - however, there is nothing I can think of regulatory wise that would prevent them slipping the term in as a condition of offer (but in such such circumstances I would kick up something rotten about such practice, since at the time of application they would obviously know this is their policy - and that would hardly be TCF!).

Unfortunately banks are going to great lengths these days to obtain personal guarantees and effectively lien all assets where any borrowing is involved (in particular business loans where they tend to require the director's first born as additional guarantee) - I suspect you may have been the victim of a 'slick move' to achieve this.

Having made the mistake myself in the past - I strongly recommend that people keep their personal and business banking as separate as possible (if you have to voluntarily place your 'bits' in someone's paw, try to do it one at a time!)

Please understand that I have made the comments above with very little information from your initial post and may therefore be way off the mark!

_Andy_

I'd put money on the OP being a spammer/SEO