We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What happens if a bank goes bust?
andy23
Posts: 14 Forumite
Hi if I have a mortgage and say the bank goes bust from what I can see is the mortgage is effectively sold on to someone's else as an asset....what I want to know is would they have to stick to the same terms originally set out such as interest rates etc or could your mortgage terms be changed?
0
Comments
-
They buy the mortgage book, which come with the original T&Cs, same when banks merge.
Mortgage started 2020, aiming to clear 31/12/2029.2 -
Unless your lender is Dodgy and Legit from Norway or Iceland, you are more likely to go bust than the lender.0
-
Mortgage terms and conditions are fairly standard. The interest rate charged can of course be varied.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards