That's pretty appalling. What if they were selling because they needed the proceeds to finance urgent medical treatment? Anything really? It's their choice! This hits it on the head: "the bank's explanation did not explain how it was seemingly fine with the existing levels of lending, but then wanted to reduce it by almost half." If you're on a fixed rate, you can't just pay off chunks if you want to, not without a penalty. But it's fine for the bank to take YOUR money and do this? How is this not a form of theft? When they have not defaulted on any payments?!
That's pretty appalling. What if they were selling because they needed the proceeds to finance urgent medical treatment? Anything really? It's their choice! This hits it on the head: "the bank's explanation did not explain how it was seemingly fine with the existing levels of lending, but then wanted to reduce it by almost half." If you're on a fixed rate, you can't just pay off chunks if you want to, not without a penalty. But it's fine for the bank to take YOUR money and do this? How is this not a form of theft? When they have not defaulted on any payments?!
Mike's beard is incredible 👏
blush