Bank requesting my wife be added as trustee of FT for loan

[WilliamB]

All, it was a c*ckup from the bank who asked Minter to review the Trust Deed with wifey as Trustee.

Once it was cleared up, no issues, loan approved.

Will def review structure for the next purchase.

Thanks all,

Pack of legends. Merry Xmas

 

[Paul@PFI]

At a stretch I can imagine the bank may require the spouse of a trustee Director to also guarantee loan.

The ONLY place this would be requested is Minter/Gadens (their usual lawyers) or their internal legal...Either way its fair to ask for a written explanation that includes that request. Then its their advice and coercion which can be argued later.

So you add her today...Removed next month. Are they stupid ?