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Mortgage sold to Kensington

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Hi everyone , I have revived a letter today from GE Money Home lending ,,informing me that my mortgage as sold to Kensington ,does anyone know the reason as to way.

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and me also:|

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I had a letter to say mine has been sold to Prestige finance

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Hi everyone hope you are all well, Just a quick one, my mortgage as been sold by GE money to Kensington does this mean my contract with ge money is now void, so should I get a new contract from Kensington stating I now owe them the money.

 

 

 

 

Thank you.

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Hello

 

 

No, your existing agreement with GE Money stays the same as you had with the original mortgagee (bank). Your contract terms will not have changed and neither will your interest you pay, everything should stay the same. So you will not get a new contract. Banks etc share liabilities (mortgages on their book) in case there are several defaults which effect makes the bank bankrupt. This is normal, and you have nothing to worry about. New customers to Kensington will be on different contract terms to you.

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There was another thread in respect of GE selling mortgage accounts to Kensington.. hold tight I will go and find a link.


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Apparently you started a thread on November 7th 2015 on the same issue - I have merged these for you.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Sorry yes I had forgotten it's my age , ok thank you.

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Hi guys I have had the same phone in today to pay my Mortgage and GE money told me they have sold my Mortgage to Kensington

 

now here is the question , I was never inform of this , does this mean now I am Mortgage free ?

 

also what if , say Kensington default charges are different than GE Mortgage ? can I challenge this and be Mortgage free ?

 

 

any input on this matter would be very much appreciated

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