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Fixed Rate Commercial loan - Help required
ADETT
Posts: 1 Newbie
Does anybody know if a bank can change a 10 year fixed rate commercial loan to a variable one after only 5 years of the term without any consultation because this has happened to us. We think this is a very serious issue as anyone else had any experience of this?
0
Comments
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What does your contract say?
If your contract does not state it will/can change after 5 years, go to court.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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