Bank accepts elderly couple's home as collateral for grandson's loan

Bluestep Bank approved a 150,000 euro loan with high interest, accepting the home of an elderly couple as collateral. The man who took out the loan is the couple's grandson. The couple's daughter stated that her father, aged 80, had been diagnosed with Alzheimer's disease, and her mother, aged 76, also exhibited symptoms of memory loss. About a year later, the mother was also diagnosed with Alzheimer's.

The bank reportedly sent numerous messages to the elderly couple as reminders for electronic signatures. The signature links failed twice before being resent. The couple's children are demanding the contract be voided, asserting that their parents did not understand its contents. However, the grandson who secured the loan holds a different view.

Bluestep Bank maintains that it ensures its clients understand the agreements they enter into. The bank did not receive responses to the signature requests sent via email.