Hi!
Our current loan with rhg is as a trust (trustee for family trust)
So the title & docs are in trustees name
we want to change the trustee which is easy to do by a minute of the trust.
but do we need the banks permission to do this - I assume we would need to notify the bank and the new trustee would then be recieveing all docs etc..
Would the new trustee in effect have to submit a new loan application to the bank?
Thanks for any advice here..
Grant
Our current loan with rhg is as a trust (trustee for family trust)
So the title & docs are in trustees name
we want to change the trustee which is easy to do by a minute of the trust.
but do we need the banks permission to do this - I assume we would need to notify the bank and the new trustee would then be recieveing all docs etc..
Would the new trustee in effect have to submit a new loan application to the bank?
Thanks for any advice here..
Grant