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tdlawyer
tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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i own my own house no mortgage i have a loan for 35,ooo my

Resolved Question:

i own my own house no mortgage i have a loan for 35,ooo my bank will not release my bonds what am i to do?
Submitted: 3 years ago.
Category: Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hi, thanks for your question. Can you explain this a bit more please?

tdlawyer :

Why will the bank not release your bonds? Were they taken as security for the loan?

Customer:

the basnk say the bonds do not expire until2017

tdlawyer :

And do you accept this?

Customer:

wht am i to do surely it is my money

tdlawyer :

Do you accept though that the investment is locked until 2017?

Customer:

yes trhat is correct

tdlawyer :

Then you would need to get the bank's consent to release the bonds early.

tdlawyer :

Have you made a formal complaint to the bank as yet?

tdlawyer :

Did you know you were investing until 2017?

Customer:

ok thanks for your help is there nothing else you can help me with i am 80 percent disabled i just cannot manage this house it is too big?

tdlawyer :

Is it possible for you to sell the house and downsize?

tdlawyer :

Are you in receipt of DLA or other benefits?

Customer:

yes i want to go to retirement assisted living but the asking price is 2050 and if the house does not fetch the asking price of 17590 what can i do?

tdlawyer :

It might be worth asking the local CAB about potential additional benefits entitlements to try and bridge the gap, but it is difficult, I appreciate.

Customer:

so there is nbo answer today can i taker the loan with me to the new property

tdlawyer :

You might be able to take the loan with you to a new property - speak to your lender and see whether it is portable, they usually are to be fair once you're out of a discounted period etc. and usually no charge at this point either.

Customer:

i fo not know whether i am out of the discounted period if i pay off the loan is the disciounted operiod?

tdlawyer :

The lender will tell you if you're out of the discounted period and what your options are. Ever product like this is very different.

Customer:

ok thanks for your help

tdlawyer :

You're very welcome.

tdlawyer :

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