unfortunately the way it works here is different, and if you change jobs or whatever the bank is within its right to call in the loan, its in the small print, they have got twitchy fingers nowadays and thats who you need to try to convince. we had the issue when we changed jobs there was 2 payments left on a car loan about 6k but we had more than enough money in the accounts to pay it off, but if you pay it off early you get stung so we just let it go,they put 35k on hold to cover this 6k loan?? even showing that the new salary was being transferred from the largest employer in abu wasnt enough, they wanted to see the contract which we showed them but they also wanted to see all the figures which we thought was a little bit much, for an amount that was well covered, a salary coming in, they wanted to see that on the contract, even though the job swap was months before, this was a new rule that the banks are now applying.
yes in the case of eosb the bank can take all the money in order to pay off any loans. without the release letter from them you are stuck, i suggest that you try and talk to someone in the bank higher up, and explain worth a try. this is the problem with the banks any sort of issues they can ask for the loan to be repaid at any time, and obviously make you pay for early redemption on top of it, i think you have to persuade the bank.
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