How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Leon Your Own Question
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44901
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Type Your Australia Law Question Here...
Leon is online now
A new question is answered every 9 seconds

I have a question regarding whether a bank who has approved

Customer Question

I have a question regarding whether a bank who has approved a home loan can tell you which other bank you can hold a credit card with. My partner and I have been approved for a mortgage loan in which we are also consolidating some credit card debt and have been told that the approval is subject to us keeping the banks credit cards which have a higher interest than the card we would prefer to keep. Are they legally able to do this
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.

Good Morning

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

Can you please confirm.

You are moving banks and part of the new loan is to pay out existing Credit cards with another bank?

As part of the loan they are offering you new credit cards with a higher interest rate?

You do not wish to take up these cards and wish to remain with the cards you have?

Have I understood this correctly?

Customer: replied 1 year ago.
No but we have sorted the issue out
Expert:  Leon replied 1 year ago.

OK all the best

You are very welcome and thank you for using my services.

If I have missed anything, or you have any further questions please let me know

If there is anything else in the future please do not hesitate to ask.

Please do not forget to leave positive feedback.