Blackhorse Finance-transfer to Skye Loans Ltd

montrose5 · 22 May 2015 at 10:38AM

I received a letter from Blackhorse this morning telling me my secured loan is being transferred to Skye Loans Ltd as of 1st June. I've phoned Blackhorse who state that they are transferring all personal loans as they no longer have the 'expertise' to deal with these type of loans!!! (I've always been on time with payments)
A few questions to those in the know:
Has anybody ever heard of Skye Loans Ltd (apparently based in Ipswich)
Can Blackhorse do this at such short notice
I plan to pay my loan off in full later in the year, how do I check that the new company no longer has a charge on the property after I've paid it off (I live in Scotland)

Out of interest has anyone else had this letter

Thanks in advance

[Deleted User] · 22 May 2015 at 10:45AM

No

Yes

Land Registry

Don't know

Land_Registry · 22 May 2015 at 12:18PM

As you live in Scotland then it would be the Registers of Scotland you would check with re release of the charge etc

Foxy-Stoat_3 · 22 May 2015 at 1:53PM

Take a look at your original loan paperwork, it will say on there that they have the right to transfer the loan to another company.

They shouldnt be able to vary the terms of the contract though.

nath77 · 23 May 2015 at 10:28AM

I am a black horse customer in Kent and I also received the same letter about my loan being sold to skye financial. I did an online search and found nothing online about them so phoned black horse to confirm it wasn't a con. I also am close to paying off my loan another 4 payments and I'm free of them

. It did strike me as very odd in being so close to the finish they then get rid of me.

SnowTiger · 23 May 2015 at 11:03AM

It appears to be a newly formed company, set up by Capita Asset Services, which is part of Capita:

http://www.endole.co.uk/company/09345937/skye-loans-limited

http://www.capitaassetservices.com

My first thought is that there's a lot of bad debt here that Lloyds simply wants rid of; they bundled it with some good debt and sell it on.

VicVic_2 · 25 May 2015 at 10:46AM

Yes, I had a letter the same day as you did. Skye Loans Limited have only been trading for 6 months. There are three Directors: Capita Trust Corporate Limited, another similarly named company and a woman who is director of about 50 similar companies.

I have done research on these and it seems Blackhourse have sold us to a debt collection agency so watch out.

montrose5 · 26 May 2015 at 9:43AM

nath 77 and Vic Vic, I've spoken again to blackhorse. They have sold their entire personal loan portfolio and now only deal with motor finance. They have not differentiated between good debt and bad debt and sold the lot (nath77 like you I thought it was a bit odd).Remains to be seen what Skye will do

keftin · 26 May 2015 at 11:47AM

Ditto.

Does this mean Skye will have bought the loans for less than what is owed and might be open to a lower settlement figure?

cashburner · 4 June 2015 at 9:34AM

Does anyone have a contact number for this company?

Brock_and_Roll · 4 June 2015 at 1:38PM

keftin wrote: »

Ditto.

Does this mean Skye will have bought the loans for less than what is owed and might be open to a lower settlement figure?

a) Not necessarily - packages of loans traded can range from "top class" right down to "bad debts" with the price ranging accordingly.

b) only if they believe the amount they could recover from you by after costs by taking action and is less than agreeing to a settlement.

Blackhorse Finance-transfer to Skye Loans Ltd

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