EGG loan transfered to transferred to Moorgate Loan Servicing?

J-Pop

Hi,

I got an Egg 5 year loan over 3 years ago and have never missed a payment, i was made redundant last year and have been getting the payment covered by PP but 4 months into my PP all my Egg accounts have been removed and i received a message saying it had been transferred over to Moorgate loan servicing.

I am just wondering how this will go now, when i took out the loan it was a special introductory offer with interest of 6.9% apr, i don't have any details as it was all done online.

I don't understand why my loan was transferred when i have good credit rating and my CC paid off fully to egg.

Has my agreement been broken because i was made redundant?

I hope Moorgate don't start charging me a higher rate when i start work again?

Thanks for reading.

bengalknights

As long as no balances have been defaulted on i wouldnt think it would effect your credit rating or loan agreement in anyway.

Moorgate are just an administrative party and could well just be looking after your account whilst its being paid via ppi so that egg dont have to deal with hassle of dealing with the insurance.

Once you start normal repayments id expect it to return back to how it was.

happy_bunny_2

All egg loans were sold to moorgate early July this year. As far as I know terms and conditions are not affected. I have one that was transferred.