Can One Account do this ?

dmd13579

My wife has an account with one account and this is both her mortgage and bank account. One account agreed to leave the 'facility' (the mortgage), at the same level for the life of the mortgage. How we pay it off in 2020 is another matter. However, they have now told us that they are going to reduce this facility in 12 months time from 72,000 to 39,000, putting her in breach of their t&cs, and enabling them to call in the mortgage which we will only be able to pay by selling the house. We are exploring a number of other avenues, but has anyone else had this experience ?, any help or advice appreciatively received.

Thrugelmir

How are you intending to repay the mortgage?

Consider switching to another product or remortgage to another lender. Though you may made need to switch onto a repayment basis.

dmd13579

Thanks Thrugelmir for responding, in reality we have little choice but to sell the property, and unless anything changes in the next 7 years that was what we were going to do. The house and mortgage is in my wifes name and as we speak not sure if she can remortgage, I cant be involved at this stage as I am a discharged bankrupt, hence why I came on here for some help.