Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
As I’m sure all West Brom mortgage holders have, I have recently received a letter from the West Brom essentially demanding that I inform them of my plans to pay off my ‘interest only’ mortgage once it comes to an end.
While I’m used to lenders sending out letters saying I should ‘consider’ / ‘have plans in place’ regarding how I will pay off my mortgage one day, the West Brom letter is the first time a lender has demanded I provide this information.
My question is, does anyone know if they have the legal right to demand this information from me? Or is it at my discretion whether I supply it to them.
Any advice would be greatly appreciated.
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