Mortgage Express transfer to Rosinca Mortgages – anyone else?
My wife and I have just had a letter from Mortgage Express to say that our 11 Buy to Let loans are being transferred this month to Rosinca Mortgages a trading name of Topaz Finance ltd.
Our loans are on the beloved tracker rate. The letter states that the existing terms and conditions will not change.
Our LTV is sitting just below 60%, perhaps this is the level they can get to offload the loans ?
Anyone else had this letter yet?
Many thanks
Darrell
Editors Note:
From UKAR page >> http://www.bbg.co.uk/landlords/transfer-rosinca
“Rosinca Transfer
Important information about the sale and transfer of a portfolio of mortgage accounts to Rosinca Mortgages
If one or more of your mortgages was included in the transfer to Rosinca Mortgages (Rosinca), we will write to you in February 2018 explaining this. If we do not write to you, then your account(s) are not included in the transfer.
Your personal information
All personal and financial data relating to your account(s) will be transferred to Rosinca. Please be assured that we will always comply with our legal obligations under the Data Protection Act 1998. We will retain details of our relationship with you to comply with our regulatory obligations.
The relevant Credit Reference agencies will be notified of the transfer(s) of legal title and they will update your report accordingly. They may send you an automated notification about this, which will be for information only. This change will have no impact on your credit score.
The new Rosinca Mortgages website will soon be up and running. When this happens, this page will be updated with a direct link to the new site. In the meantime, please read through the Frequently Asked Questions – see below.
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Cheap BTL needs Housing Association?
Member Since July 2013 - Comments: 71
1:18 PM, 5th June 2018, About 8 years ago
From what I have learnt recently about legal charges and changes there has to be one year before enforcement actions can be taken.
So I guess we need to do something if we disagree with that change and a change in terms.
I also hate that notice in the small print that something like if you breach they can ask for full repayment within 7 days. That is a carte Blanche to kill off and steal prepack administeration of a property held by them.
Neither can I find the causes of that clause although I expect it is beyond keeping up payments.
Member Since February 2016 - Comments: 977 - Articles: 1
1:22 PM, 5th June 2018, About 8 years ago
We had one ME mortgage, which was transferred to Rosinca. We were worried about uncertainty of the new provider and very quickly remortgaged the property. They did not give us any problems.
NB – as owners of 5 BTL we had to go through the new ‘portfolio landlords’ process, when remortgaging. We were expecting to last at least 6 months, but it was closer to 6 weeks.