My bank just threatened to withdraw banking privileges from me....

poor_in_£

I'm so scared & worried as my mortgage and loan are with them... am I right to be this concerned?

BillJones

Could you give some more information, please?

They can't unilaterally demand that a mortgage or loan are paid back early, but can refuse to offer you new services. What happened?

GingerFurball_2

Yeah, we're going to need more information than this. A bank doesn't just decide to pull someone's bank facilities for no reason.

grumbler

GingerFurball wrote: »

A bank doesn't just decide to pull someone's bank facilities for no reason.

Really?
In fact it's not uncommon. Even if there is some 'reason' it is often impossible to guess as they keep it secret.

poor_in_£

have been so helpful since my new employers messed up my wages 6 months ago, but now, since i agreed to reducing my temporarily agreed overdraft by £400 this month as I thought it was achievable, I have discovered it isn't... and I'm stressing now.

poor_in_£

I hadn't had a problem until the last 6 months, regular wage etc, reduced outgoings reduced to what I could.. and today they say this to me. Would this affect me as badly as I think?

Mr_K

Talk to them, they don't like you ignoring them. Not in their interests to seen you go under if you've got a mortgage/loan with them. They'd rather you paid them something than nothing.

Also, sorry if it sounds obvious but you're going to have to cut your outgoings - mobile phone ? pc ? satellite tv ? clothes/going out ? Concentrate on food, the roof over your head and keeping your job/ and poss. getting a better paid or additional job.

I would suggest robbing the bank but its not as easy as it used to be Chin up.

Hominu

BillJones wrote: »

They can't unilaterally demand that a mortgage or loan are paid back early

If you breach the terms of the T&Cs then they can cancel the mortgage. Likewise, if they suspect fraud, they can cancel the mortgage.

They will not cancel a mortgage because they don't like you, or because of something on your credit report, as long as it's after the funds have been transferred. Likewise, some people think a mortgage is secured when you have the written notice from the bank, it's not. It's when you have the cash.

System

Use another bank for 'your banking privileges'.

If you don't have another bank account, open one ASAP with a bank not related to your current provider.

poor_in_£ wrote: »

I'm so scared & worried as my mortgage and loan are with them... am I right to be this concerned?

grumbler

Hominu wrote: »

If you breach the terms of the T&Cs then they can cancel the mortgage

If you breach the T&C of the mortgage.

Likewise, if they suspect fraud, they can cancel the mortgage.

I don't think that just a suspicion can be sufficient for this.

BillJones

poor_in_£ wrote: »

I hadn't had a problem until the last 6 months, regular wage etc, reduced outgoings reduced to what I could.. and today they say this to me. Would this affect me as badly as I think?

Can you possibly try actually typing up a post explaining what exactly you are talking about?

You are not even typing in full sentences at the moment. Make yourself a cup of tea, sit down, and please, explain properly what is going on. If you don't, no-one can offer you any sensible help.