Hi, I wonder if anyone knows where i stand on money that i borrowed from my building society, but that i havent signed for, or had witnessed?
This was a remortgage but in the past i have always had to sign a legal document and get it witnessed.
Do i have to adhere to the repayment structure if i havent signed an agreement?
Any help would be much obliged
It doesn't sound like a remortgage but a further advance. What makes you think you haven't signed an agreement? The additional borrowing will be covered in the original agreement.
In message , paul_d snipped-for-privacy@hotmail.com writes
Are you sure it was a re-mortgage? it sounds like a further advance.
Yes. Many Mortgage Deeds include a commitment to further lending and 'new money' and they are also a 'continuing security' and the original wording covers this. The loan may not be regulated and therefore no further paperwork required.
What do you need help for? I assume you asked to borrow some more dosh and they lent it to you. What is the problem?
He wants to re-classify it as a gift.
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