Why are they are demanding a huge array of info from my entire portfolio, the 15 mortgages I have with them and the 19 mortgages I have with other lenders? They want evidence of everything I do make spend etc which has me worried about my own home.
Does anyone know what their intent is and what they can take hold of should they insist I repay their mortgages most of which are in negative equity due to recessionary factors not my immaculate lending and payment habits?
This is a Question posted on our article -
Mark Alexander: I suggest you politely cancel the appointment and advise them that you already employ an independent financial adviser. MX have only one motive which is to encourage you to reduce your exposure to them. Providing you are operating your portfolio in accordance with their terms you have absolutely nothing to worry about. You are certainly not obliged to meet them. If they believe you are in breach if their mortgage terms they may well put pressure on you but there is nothing they can do without a court order. The more information you give to them, the more likely they are to increase pressure in you to reduce your loans with them. Give them an inch and they will try for a mile.
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