Strange question from lender

bell2020

Hi

we have an application in with Leeds building society, it’s been about 3 weeks now. They’ve come back with 2 lower loan amounts so far and are re-reviewing again. 

Yesterday, they asked our mortgage advisor if I had any “personal vulnerabilities” ….? She confirmed that I don’t but stated it’s a very strange question. 

I don’t know why this has been asked? Seems very odd. Can anyone shed any light? Should we be concerned?

thanks 

DullGreyGuy

They are presumably asking if you should be classified as a vulnerable customer? 

https://www.ukfinance.org.uk/news-and-insight/blog/customer-vulnerability-disclosures-new-principles-mortgage-sector-set 

kingstreet

Probably just checking they don't need to invoke their vulnerable customer regime. They may have picked something up from your bank statements, or similar. Things like DLA, Carers Allowance could cause them to ask...

DullGreyGuy

kingstreet said:

Probably just checking they don't need to invoke their vulnerable customer regime. They may have picked something up from your bank statements, or similar. Things like DLA, Carers Allowance could cause them to ask...

Thought it was becoming more of a standard question now since Customer Duty went live in January and given the lender doesnt have direct access to the consumer 

bell2020

kingstreet said:

Probably just checking they don't need to invoke their vulnerable customer regime. They may have picked something up from your bank statements, or similar. Things like DLA, Carers Allowance could cause them to ask...

They know I receive DLA on behalf of our Son. Also used to receive CA but I earn too much now. I wondered if it was related to that just found it strange they’re questioning me personally. 

Thanks ☺️

kingstreet

DullGreyGuy said:

kingstreet said:

Probably just checking they don't need to invoke their vulnerable customer regime. They may have picked something up from your bank statements, or similar. Things like DLA, Carers Allowance could cause them to ask...

Thought it was becoming more of a standard question now since Customer Duty went live in January and given the lender doesnt have direct access to the consumer 

If the broker has answered the application question no and they have picked up the state benefits, they might re-check with the applicant.