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Building Society interest only option

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  • 27-07-2010 7:22pm
    #1
    fatchops
    Registered Users Posts: 52 ✭✭


    I have had an interest only option on my mortgage for over a year now and am looking to extend it for a further period. My Building Society are looking for my last three months bank statements. My question is, is it safe to do this, will they have access to my account to withdraw money if they wish, or am i being a little too paranoid, any help would be appreciated, thanks in advance


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    #2
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    fatchops wrote: »
    I have had an interest only option on my mortgage for over a year now and am looking to extend it for a further period. My Building Society are looking for my last three months bank statements. My question is, is it safe to do this, will they have access to my account to withdraw money if they wish, or am i being a little too paranoid, any help would be appreciated, thanks in advance

    Being paranoid i think. they have no authority to take money and if they did they would be in serious trouble with regulator. They are looking to assess your financial situation before agreeing to anything. Sounds fair enough to me.


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