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Never ? That's a looooooong time Ta Rolf

Just dont use their LOC product.............................

I dont disagree with this in general, as a basic Ma and pa home owner your risk is small............as a big investor it may be different. for perspective though read here ..............I personally know a couple of people that went to the wall for no fault of their own.............yes I know...

Thats a natural outcome of the price of being RIGHT :( We are very lucky not to have many of these, but where I get in on the tail end of trying a rescue ( off someone else's loan book) , for most borrowers, you just have to advise them to put the shovel down and stop digging ta rolf

Suitable security is the key here......... ........certainly works for margin lends, not my area of expertise, I would have thought a margin lend is regulated by the NCCP. ta rolf

Overcomplicated yeah ! I think I said that in one line :), however yours is much more specific and has correct spelling. Def of default is whenever the lender deems u are in default under your agreement ........case closed I have to laugh when I see the outcome of some indefensible...

agreed......the lender would have NIL chance of getting a judgement ta rolf

so where is this in any lenders provision of mortgage contract ? I dont necc disagree with you overall, but lets stay in the realms of the real world and not some nebulous galaxy far far away ta rolf

until I see some actual cases in front of a magistrate Id suggest we are somewhat premature. ta rolf

Def of default is whenever the lender deems u are in default under your agreement ........case closed t arolf