
Should the mortgage have ever been granted? Here she goes again I hear you shout. I can also hear you all shouting NO IT SHOULD NOT. I cannot argue with you there. Morally, it should not have been, but even from the Bank’s point of of view, the second mortgage should definitely not have been. It was a bad business decision and a very questionable business decision from a Bank, who by their own admission are Trustees of the account holders money.
In my other life I was a Building Society Manager. All mortgage applications had a clear criteria to follow. Had I been foolish enough to grant the first mortgage to Abdurrahman Guney and Yuksel Yilmaz, the second application would have never have been accepted. The first mortgage was already 8 months in arrears by the time the second mortgage was applied for. In month three of the arrears situation on the first mortgage I would have commenced legal action to recover the debt, by month eight the legal proceedings would have been well advanced. There is no way any astute lending institution (with a responsibilty to it’s shareholders and account holders) could justify advancing MORE MONEY to a known risk, unless of course something ‘fishy’ was going on.
I am accusing no-one. Merely asking questions..
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