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Bank have lost loan documents

linola_c · 2017-10-22 21:57:42

Hi guys Looking for a little guidance or similar experience. A friend of mine defaulted on a mortgage some 8/9 years ago with a bank. They never heard a word about it until earlier this year, they discovered they had a lien over their house. From memory, They never offered their house as security for this loan. They wrote…

22-10-2017 10:57pm

#1

linola_c

Registered Users Posts: 198 ✭✭

Join Date: August 2006

Posts: 124

Hi guys

Looking for a little guidance or similar experience.

A friend of mine defaulted on a mortgage some 8/9 years ago with a bank. They never heard a word about it until earlier this year, they discovered they had a lien over their house. From memory, They never offered their house as security for this loan.

They wrote to the bank and asked how much was owing etc and made an offer to try and resolve the matter which was refused. They then made a subject access request for all documents. The bank responsed stating they had misplaced the loan documents and only provided them with documents which related to earlier this year!!

They believe that the bank has taken out the lien on their house in error as they never offered it as security.

Does anyone know how long a bank is meant to retain loan documents? I can't see anything online but for money laundering legislation and some provisions of the consumer credit codes.

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