MAS No.5

never-in-doubt

Anyone happen to know what the standard variable rate is with Mortgage Agency Services No.5 (MAS No.5)? My mortgage was transferred from GMAC to MAS after 6mths and i've just left it going. I think my fixed rate is due to end and hope their standard variable stands a little better (for a self cert, my 5.6% 2yr fixed term was great at the time!).....

never-in-doubt

anyone use MAS No5 or am I the only one lol

theartfullodger

Do you mean these guys??

MORTGAGE AGENCY SERVICES NUMBER FIVE LIMITED
NEWTON HOUSE
CHEADLE ROAD
LEEK
STAFFORDSHIRE
ST13 5RG
Company No. 04420522

(From Companies House)
I can't find a web site 4 them.. they are registered with the OFT but it seems to be about debt collection the details the OFT has of them are

Licence Number:0522630
Licence Status:Current

Current Applicant / Licensee:

Business NameCompany Registration Number Mortgage Agency Services Number Five Limited4420522

Categories:

Consumer credit Debt administration Debt collecting Provision of debt-adjusting on a commercial basis Provision of debt-counselling on a commercial basis

Right To Canvass Off Trade Premises:No


Issued Date: 19-Jul-2002
Expiry Date: 12-Sep-2012


Legal Formation:

Body Corporate (incorporated inside UK)

Current Individuals that run the organisation:

NamePosition David TweedyOfficer Jon Ian KatovskyOfficer Michael George LewisOfficer Paul Derek Medford Philip Andrew LeeOfficer Stephen WilliamsOfficer

Historic Individuals that run the organisation:

NamePosition Gerald Arthur GregoryOfficer Mr Stephen WilliamsOFFICER Robin GreenOFFICER

Current Organisations that run the organisation:

NameCompany Registration NumberPosition PCSL Services No 1 Ltd03720738Officer

Historic Organisations that run the organisation:

NameCompany Registration NumberPosition PCSL Services Number One Limited OFFICER

Nature of Business:

Mortgage Brokers Investment/Financial Advisers

Current Address(es):

Address TypeAddress CorrespondenceNewton House, Cheadle Road, LEEK, Staffordshire, ST13 5RG, United Kingdom Principal Place Of BusinessNewton House, Cheadle Road, Leek, Staffordshire, ST13 5RG Registered OfficeNewton House, Cheadle Road, Leek, Staffordshire, ST13 5RG

Historic Address(es):

Address TypeAddress CorrespondenceNewton House, Cheadle Road, LEEK, Stafforsshire, ST13 5RG, United Kingdom

Err... no offence but when you telephoned them & asked what SVR didd they quote??

Cheers!

Lodger

never-in-doubt

theartfullodger wrote: »

Do you mean these guys??

(From Companies House)
I can't find a web site 4 them.. they are registered with the OFT but it seems to be about debt collection the details the OFT has of them are

Err... no offence but when you telephoned them & asked what SVR didd they quote??

Cheers!

Lodger

Hiya

They are based in Plymouth, a division of Birmingham Midshires if I remember correctly....

I haven't asked them yet, just wanted to check here before ringing them up...... its not a debt thing though, they deal with sub-prime obviously cos mine was self cert but not at silly rate - at the time (summer 07 in the peak) it was amazing rate.... hindsight

never-in-doubt

Their SVR is an ok 2.99% so half of current rate...... that's not too bad actually for Self Cert mortgage

kev2243

Hi ,

MAS Number 5 are based in Plymouth (01752236501). I couldnt find a web site for them either

They are currently offering a rate of 2.6%

hope this helps

cheers

Kev

never-in-doubt

kev2243 wrote: »

Hi ,

MAS Number 5 are based in Plymouth (01752236501). I couldnt find a web site for them either

They are currently offering a rate of 2.6%

hope this helps

cheers

Kev

Hi Kev

where did you get this info from....? thanks by the way.

CathyD_2

I am self employed and just coming off a fixed rate with MAS No.5 Ltd, mine ends June 09 and new rate quoted for me from July 09 is 2.80%:j

samson21_2

MAS No 5 are indeed a subsisdiary of Brittannia, or where until Brittannia merged with Co-Operative Bank this summer. I should add that , as advised to me to-day, MAS No 5 are only the mortgage administrators!!!!

I took out a fixed rate , self-cert, mortgage with GMAC at 5.99%, in September 2007. This is due to end on 15th October, .

However, GMAC sold the mortgage to MAS NO 5 after a year !!!

I have today been advised (by MAS No 5) that , although GMAC have sold the mortgage to MAS No 5, and although MAS No 5 was a subsidiary of Brittania, and although Brittania has now merged with CO-OP, I will still drop onto the original GMAC variable rate mortgage of 3.74% (a whole 3.24% above the current BOE base rate).

This will still reduce my mortgage by just over £200 but I feel it is a bit rich (pardon the pun) that I should still be tied into a mortgage company who have sold the mortgage without even bothering to ask if I would mind if they did so?

Confused of Chadderton

paulagraham01

I have received a second letter from MAS No.5 in 3 months announcing another increase in their interest rates on our mortgage. I challenged the first increase of 0.75% as the Bank of England rates have remained static for some time now ad received a 'this is not linked to the BOE base rate or LIBOR rate' and 'we are still competitive' type reply. They have subsequently been taken over by the COOP which was a relief (I thought) as now an ethical company owned the loan I expected that this would filter down to MAS No.5 and that there would be no further unfair increases. Spoke too soon - today there has been another letter increasing the mortgage by a further 0.76% - I will write to MAS and the COOP to see what their justification is behind this though expect a similarly weak reply. Has anyone else challenged these increases and what response have you had? Is it just me or is this unfair and un ethical during tough times when interest rates are at their lowest for a company to increase their loan rates by over 1.5%????? I want to show this company for what it really is though maybe the COOP will see sense in the error of MAS’s ways and do the right thing by borrowers – if anyone has any hints or tips or has had success in challenging them please let me know! Thanks - Paul:mad:

sueH

Having been a MAS customer - my mortgage was sold to by GMAC back in 2006 without our knowledge. I would NEVER recommend them at all, they do not reply to your letters or phone calls. It was not until we moved in May 2009 that we were able to leave this company due to a tie in (previously agreed with GMAC).

My only advice is STEAR WELL CLEAR OF THIS COMPANY.... CUSTOMER SERVICE IS AWFULL.