Loans - Is it illegal to ......

PDC

There can be legitimate reasons, sometimes they will act if they think fraud might be taking place or money laundering. Much as stated by the poster above.

Asking someone to visit to 'watch a video' does seem odd though.

Personally I'd call them up and ask for more information about it as if you/he doesn't go then you are going to be worrying about it, I would imagine, from the fact that you are posting on here.

enthusiasticsaver

So long as he did not falsely state anything on the loan application and its purpose then no it is not illegal.

theblagger

Clive_Woody wrote: »

Ask the bank to bring the video to his house for him to watch if they really need him to see it.....and tell them to bring biscuits.

lol:rotfl:

Carmen88

jonesMUFCforever wrote: »

Is this Lloyds bank at all?

They make customers sit through videos for nearly everything these days - its to stop you blaming them for any future misselling.
If you have ever claimed PPI back its your fault!!

No, this was Halifax ... :mad:

Carmen88

CKhalvashi wrote: »

Not heard of this before, but seems a sales ploy.

Which bank is it, out of interest?

Me either! It was Halifax!

Carmen88

Clive_Woody wrote: »

Ask the bank to bring the video to his house for him to watch if they really need him to see it.....and tell them to bring biscuits.

Haha! Good idea! :T

Carmen88

rogerblack wrote: »

Dependent on the state of the father, there may be concerns about if he's being financially abused.
While it's clearly legal for someone to take out a loan and freely give money to someone else - if someone is being coerced into doing this, especially if they are not able to coherently explain why - real and legitimate concerns arise, and should and must be brought up by the bank staff.

Thanks for your input! Never thought of it this way. Just for the record he is certainly not vulnerable or anything of the sort but i can see that a bank may want to investigate this sort of thing

Carmen88

Thanks everyone! My father in law didn't attend the appointment and the bank hasn't asked again! Loan is still been paid and will soon be cleared.

andyuk01

I had something similar a few years ago

Father in law took out a loan for me (better apr etc etc) i paid the loan amount into his account a few days before the payment came out and they called him several times about this, local branch along with a couple of head office departments

This was halifax as well

We just paid it off and closed the loan down and assumed this sort of behaviour triggered something

No long term impact we can see

Brock_and_Roll

As a banker it depresses me that these lenders have so little confidence & faith in their own employees that they just use videos. In this race to the bottom it will just end up like pre-flight safety videos which 99% of people pay no attention to!