JP Morgan Chase bank?????

chrisbee_2

Hi all i recevied a letter this morning stating a change of ownership of my mortgage account ?? im currently with GMAC-RFC now switching to JP Morgan Chase Bank ?? who are they ?? I tried to do a search on them to see there current intrest rate etc but found nothing !!

Is there any mortgage broker out there that has current dealins with JP Morgan????

Browntoa

J.P morgan

http://www.jpmorgan.com/pages/jpmorgan

took over Chase Manhattan bank ( and Bear Stearns more recently)

http://www.jpmorgan.com/cm/Satellite?c=JPM_Content_C&cid=1159345615493&pagename=JPM_redesign%2FJPM_Content_C%2FGeneric_Detail_Page_Template

JPMorgan Chase Completes Bear Stearns Acquisition

chrisbee_2

anyone had any mortgage deals with them ???

UK007BullDog

They are an American investment house. They dont really do mortgages. Once you are done with your deal they might offer you a new deal or encourage you to remortgage elsewhere.

UK007BullDog

They invest in mortgage packages and buy bundled up mortgages from other finance houses/banks.

Good to see they are starting to buy and sell again.

Dan_Collins_2

GMAC nearly went under trying to flog that last lot. They probably wont offer you anything great but I would not worry until you get near the end of your deal. About the only yank bank buying stuff over here I think!

maggymoo

I have my mortgage with these, just received a letter one day saying my mortgage would no longer be with GMAC and now with JP Morgan Chase.

So that means when my fix rate with these runs out next year i will no longer be able to get another fix rate with these? At the moment my Mortgage is a buy to let because i rent my property out. Anyone got any advice?

welshspendthrift

my mortgage is with these too. I am considering a move , does anyone know anything about whether I can contact them direct to see if they would offer me a mortgage on another property?

VIGILANT22

If you have been transferred to JP Morgan they wont be offering you new deals when your rate ends, you will automatically go on to SVR. GMAC previously offered incentives for customers who fitted the LTV criteria to move elsewhere if they could, some saw us much as 20k knocked off outstanding mortgage debt...They did this to reduce their exposure......Don't know if JP will do the same but is worth a call.........

Radiantsoul

welshspendthrift wrote: »

my mortgage is with these too. I am considering a move , does anyone know anything about whether I can contact them direct to see if they would offer me a mortgage on another property?

You can ask, but I suspect they are seeking to wind down their mortgage portfolios. Why not just use one of the comparison sites and go with the cheapest and likely mainstream lender. I doubt the at they will be offering market leading rates, in fact they will probably charge higher rates to reduce their customers and lower their mortgage book exposure.