We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Our mortgage has been sold to a new lender.
dolphingazer
Posts: 416 Forumite
We have had a mortgage with Future Mortgages for several years; however on Friday we received a letter from Future stating that as of 16th December Engage credit Ltd will be taking over our mortgage.
My husband rang and spoke to Future and was told that all Future Mortgages had been sold on.
We are very worried as the letter from Future says, Engage will be responsible for setting interest rates and charges on our mortgage following the change of ownership. We have not received a letter from them yet.
We didn't know that mortgages can be sold on like this. What are our options?
My husband rang and spoke to Future and was told that all Future Mortgages had been sold on.
We are very worried as the letter from Future says, Engage will be responsible for setting interest rates and charges on our mortgage following the change of ownership. We have not received a letter from them yet.
We didn't know that mortgages can be sold on like this. What are our options?
0
Comments
-
What for the new lender to confirm terms, if you where in a fixed rate I very much doubt they can vary the terms of your current offer.
If you don't like the new terms, move to another lender."Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0 -
We didn't know that mortgages can be sold on like this.
Alliance & Leicester and Bradford & Bingly became Satander. There are plenty of others. My Lloyds bank mortgage is now TSB.What are our options?
stay with them or remortgage to another lender.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you both for your replies.
We weren't on a fixed rate, so, will wait and see what's on offer.0 -
I don't expect you will notice any differenceI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
dolphingazer wrote: »Thank you both for your replies.
We weren't on a fixed rate, so, will wait and see what's on offer.
Were you on their standard variable rate?0 -
pinkteapot wrote: »Were you on their standard variable rate?
Yes, we're on their standard variable rate.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards