Lenders must probe joint borrowers for signs of exploitation
The Supreme Court highlighted the 'damaging effects' of the problem in a case ruling last month that a bank had a duty to investigate whether a woman faced undue influence from her partner when the couple took out a mortgage that would be used partly to pay off his debts.
The judges ruled unanimously that staff at One Savings Bank knew that money loaned to allow Catherine Waller-Edwards to remortgage her home would be used in a way that did not benefit her financially and it should therefore have checked to determine whether Nicholas Bishop had put her under undue influence.
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