Trapped and Exploited by Nationwide

Blunty

Isn't there an issue of Data Protection here, if the OP was sent confidential e-mails by Nationwide?
The Information Commissioner might be interested in examining this.

Keep_pedalling

ViolaLass wrote: »

But the OP hasn't used the money - they said they've still got it in the bank. If they keep it in the bank, what was the point of the equity release?

None of it makes much sense really, if the daughter has not received anything why on earth is she selling her house? It sounds like after making one massive mistake, they are just about to enbark on another one and drag their daughter into it this time.

If the OP is still reading this I think they would be wise to take some payed for professional advice before taking any more steps.

Dalradian

I am also confused as to why they are now making the daughter sell her house to bail them out, it seems a poor decision to make extra parties suffer.

mrsnobody

Why not repay as much as you can now, then engage a specialist equity release broker to see if the balance of the loan can be re-broked to another lender at a lower rate?


Even if this is not possible, or does not stack up financially (early repayment charges, plus new application fees may offset any saving in interest), interest at 6.75% will be accruing on a much lower loan balance.