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Bank Query - can you help?

  • 06-04-2011 8:04am
    #1
    Mawbish
    Closed Accounts Posts: 23 ✭


    Hi all,

    To explain briefly I'm currently in talks with my mortgage manager to arrange for a reduced mortgage repayment plan. My account is held in a different branch (same bank) and when I went to check my account yesterday it shows that I'm overdrawn by almost e1,000 - can the bank take money from my account to pay the mortgage (while discussions are taking place) and push me into an overdraft?

    I've had no contact from the bank advising me that my account is now overdrawn. Are they entitled to do this?

    Thank you for any advise that you may be able to share.


Comments

  • #2
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,806 ✭✭✭GerardKeating


    Mawbish wrote: »
    Hi all,

    To explain briefly I'm currently in talks with my mortgage manager to arrange for a reduced mortgage repayment plan. My account is held in a different branch (same bank) and when I went to check my account yesterday it shows that I'm overdrawn by almost e1,000 - can the bank take money from my account to pay the mortgage (while discussions are taking place) and push me into an overdraft?

    I've had no contact from the bank advising me that my account is now overdrawn. Are they entitled to do this?

    Thank you for any advise that you may be able to share.

    They cannot do this without your permission, but I reckon if you read the really really small print in your mortgage agreement, you may have agreed to this, it tends to be a standard part of a loan agreement.


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