Off-Setting - Can they add to the mortgage?

DNW_2

One of our creditors (Santander) has written to us saying that further action may be taken and that this may include the transfer of funds from an alternative account we hold with them. I do understand about the basics of off-setting but my question is - the only thing either of us has now with Santander (thanks to a panic bank transfer of emergency fund yesterday when I found out that Alliance & Leicester were now part of Santander) is the mortgage. Can they add our credit card debt onto the mortgage or could they only take available funds if there were any in say a savings account?

KiKi

DNW wrote: »

One of our creditors (Santander) has written to us saying that further action may be taken and that this may include the transfer of funds from an alternative account we hold with them. I do understand about the basics of off-setting but my question is - the only thing either of us has now with Santander (thanks to a panic bank transfer of emergency fund yesterday when I found out that Alliance & Leicester were now part of Santander) is the mortgage. Can they add our credit card debt onto the mortgage or could they only take available funds if there were any in say a savings account?

I think it depends on the mortgage you have.

I have an older mortgage product with them (flexible off-set), which comes with a savings account and 'available funds' - which Santander are free to play with if I owe them money. I don't know about all mortgages, though - I wouldn't dare guess! Do you have your mortgage T&Cs you could check?

KiKi