Acenden

Davidsarah

Help. I have been offered a good mortgage by a company called Acenden, looking at the reviews in 2011 everybody hated them if they were in arrears, but what about now? I have no intentions of being in arrears, should I trust them?

kingstreet

I thought Acenden was only a service provider and had never offered mortgage products.

It is being taken over the the two private equity firms which own Kensington.

Is it possible it's a Kensington mortgage? What is at the top of the key facts illustration?

amnblog

I believe Blackstone and TPG have bought both Kensington and Acenden in recent days.


As KS says, as far as I am aware Acenden just provides administration services and does not offer new lending.


The wider question was should you trust them? Why should you trust any commercial business? Why should they trust you?


If you want to buy your property, you will have to trust someone?


As you can see, even if Acenden do offer you a loan and you are comfortable with them, they may be bought out next year and turn into a business you do 'not like'.


All you can do is decide if the current offer is right for your circumstances.

bobbybang77

Our mortgage has been with Acenden for 3/4 years since they took over preferred mortgages whom our loan was with.
not had any issues with them, although we haven't given them any problems.

Thrugelmir

bobbybang77 wrote: »

Our mortgage has been with Acenden for 3/4 years since they took over preferred mortgages whom our loan was with.
not had any issues with them, although we haven't given them any problems.

That's the case for the over whelming majority of people. Keep to the contractual terms and you will rarely have need to speak to them or them to you.

beaujolais-nouveau

Do not touch Acenden with a barge-pole.

beaujolais-nouveau

Thrugelmir wrote: »

That's the case for the over whelming majority of people. Keep to the contractual terms and you will rarely have need to speak to them or them to you.

That is not true, actually.

antrobus

amnblog wrote: »

I believe Blackstone and TPG have bought both Kensington and Acenden in recent days.....

Blackstone/TPG bought Kensington last September, and Accenden in January. Presumably this means that there is still life left in sub-prime mortgages.

beaujolais-nouveau

antrobus wrote: »

Blackstone/TPG bought Kensington last September, and Accenden in January. Presumably this means that there is still life left in sub-prime mortgages.

Sub-prime is so last week, from the point of view of financiers. Acenden got rid of a quarter of its loans in three years, which suggests that they did so mainly by repossessing. No one is selling sub-prime now, as far as I know.

Blackstone's long-term game appears to be to control some of the tv and radio in this country. They are also supporters of the Israeli Defence Force.

beaujolais-nouveau

amnblog wrote: »

I believe Blackstone and TPG have bought both Kensington and Acenden in recent days. ...

The new owners of Acenden and Kensington (whoses mortgages Acenden will be selling) are a global power so if you run into difficulties with Acenden's conduct you may find that the FCA and FSA don't have much leverage.

Many of Acenden's staff are poorly qualified.

My feeling is that the remainder of the 68,000 mortgages that Acenden still administers will be got rid of, one way or another, and Acenden will be wound up.

beaujolais-nouveau

amnblog wrote: »

All you can do is decide if the current offer is right for your circumstances.

When I submitted a Subject Access Request to Acenden, I was astonished to discover that the figures on my original application paperwork had been altered by Acenden. Acenden would not answer my questions about this (and several other things).

What I am saying is: you may think that the current offer is right for your circumstances while, at the same time, Acenden has altered your paperwork without your knowledge or consent to ensure that it is even more "right" for them.