Structured Property Finance

Notice to all customers with secured or unsecured loans and offers

Business as usual

Although Heritable Bank Plc has gone into Administration, it is currently business as usual. Heritable Bank Plc has not ceased to trade. The Administration is necessary because of Heritable Bank Plcs financial position and to ensure that it can continue to operate, and to ensure the best interests of customers and creditors are served.

If you are a customer with a residential, buy-to-let or commercial mortgage:

  • Your existing mortgage agreement remains in place.
  • There is no intention to change the repayment profile of your mortgage and you are not being expected to refinance elsewhere.
  • All existing early repayment charges and notice periods remain in force.
  • You should continue to make payments in the usual way.

If you are a customer with a mortgage offer: -

  • No further loans will be provided.

If you are a customer with an unsecured loan:

  • Your existing loan agreement remains in place.
  • There is no intention to change the repayment profile of your loan and you are not being expected to refinance elsewhere.
  • All existing early repayment charges and notice periods remain in force.
  • You should continue to make payments in the usual way.

Finally, we would like to re-iterate that our key objective is to ensure business as normal during this process. We shall keep you as fully informed of the situation as we are able as matters progress.

Tom Burton, Alan Bloom, Maggie Mills and Patrick Brazzill
Joint Administrators