bank giving me a hard time re mortgage..

blossom30

Hi I have been with the same mortgage provider for 21 years (stupid I know) but I couldn't be a***d moving about as it has always been a small mortgage. Anyway I will be moving home soon and require just a small mortgage which I opted for interest only as I have 2 endowments to cover the loan which mature in 2011. The bank has asked to see proof of premiums and asked for passports etc, I think this is all a bit much considering I have been with them all these years and have not missed 1 mortgage payment..why are they being so awkward with me and what proof of premiums are they looking for. With regards to passports I thought if you were a customer prior to 1994 then this should not be necessary. I would appreciate others points on this. thanks shrewdal

silvercar

As you have been with your provider so long, they will not have previously identiy checked you; hence the need to do this now that you are taking a new product from them.

I'm guessing that you are taking an interest only product and have stated that you have endowments to repay your mortgage, it is sensible lending practice to check that these endowments are running.

It may irk you to produce passports etc, but at least you know someone would run into problems if they were trying to steal you identity!