All lending with us will need to be paid back from the estate, or assets, before any property or money is distributed to beneficiaries.
We’ll stop any credit cards, and access to the credit limit of any overdraft or flexible home loan.
To avoid the loan, overdraft, or card going into default, loan repayments, fees, and interest charges will continue from the account used to pay the loan.
Talk to us if you’d like to make payments to the loan, overdraft, or card until you’ve had a chance to sort out what will happen with that lending. We also recommend you talk to a lawyer about what to do and whether any repayments you make can be later paid back from the estate, or assets.
If we have a mortgage over a property, we may need to sell that property to recover money we’re owed under any loans.
We also have the right to use any deposits or investments that the deceased had with us towards amounts they owe us, including lending.
If the deceased had joint loans with someone, we may be able to transfer that lending into the other person’s name. But that other person will need to meet our lending and security criteria. For example, we’ll need to be satisfied the other person can afford to repay the lending alone.
If the deceased was an additional credit cardholder, we’ll cancel the card. The main cardholder can continue to use the card account. If your family member was the main cardholder, then we’ll stop both cards. Please talk to us if you need to order a new card.