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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Member Since January 2011 - Comments: 12193 - Articles: 1395
8:47 AM, 14th February 2018, About 8 years ago
Reply to the comment left by Ken Smith at 14/02/2018 – 08:39
Thanks Ken, your kind words mean a lot to me.
Member Since April 2016 - Comments: 5
11:27 AM, 14th February 2018, About 8 years ago
Reply to the comment left by Ken Smith at 14/02/2018 – 08:00
Ken, As I stated earlier in the thread, Rosinca and Jasper are sub brands of Topaz Finance plc which is owned by Australian share trading and mortgage servicing platform Computershare.
Member Since July 2013 - Comments: 197
11:40 AM, 14th February 2018, About 8 years ago
Just received my letter too .My Morgages are being transfered to Jasper mortgages.
Member Since February 2016 - Comments: 977 - Articles: 1
11:44 AM, 14th February 2018, About 8 years ago
Reply to the comment left by Jan Martin at 14/02/2018 – 11:40
Same here. They say that Jasper will be responsible for setting up the rate. We are on SVR, good 2.2%. I wonder how high will it go. and if they will be open to remortgage? Any thoughts on the latter?
Member Since January 2018 - Comments: 59
12:04 PM, 14th February 2018, About 8 years ago
Reply to the comment left by Jason Griggs at 14/02/2018 – 11:27
After my previous post today, my letter has just arrived with all mortgages transferring to Jasper. I’ve decided that this is neither good nor bad news at present – it’s just news. Time will tell….
Jason, it might say that about Topaz etc, but my point is that ultimately the 2 companies I mention must be involved.
Why not visit UKAR press centre for last years announcement of this sale? UKAR state who they have sold to. These are the only transfers made since the announcement. Various press reports out today confirm the same re: Prudential and Blackstone.
http://www.ukar.co.uk/media-centre/press-releases/2017/31-03-2017?page=5
We all know that high-finance is a murky unclear world anyway, with layers of companies within companies. In any event, who owns the loans is not of major importance to us really is it. We just need them to be ‘proper’ lenders – open for business.
Member Since January 2018 - Comments: 59
12:06 PM, 14th February 2018, About 8 years ago
Reply to the comment left by Whiteskifreak Surrey at 14/02/2018 – 11:44
Unless I’m mistaken, your fears were dealt with yesterday by Mark Alexander earlier on in this thread.
Member Since January 2011 - Comments: 12193 - Articles: 1395
1:19 PM, 14th February 2018, About 8 years ago
Reply to the comment left by Whiteskifreak Surrey at 14/02/2018 – 11:44
I think your rate was sold as a tracker. If they do try to charge more we may have another West Brom type case to deal with.
Member Since February 2018 - Comments: 79
1:57 PM, 14th February 2018, About 8 years ago
Reply to the comment left by Mark Alexander at 14/02/2018 – 13:19
Yes i wouldnt worry what ME are saying over the phone. They are wrong. My mortgage offer clearly says that after my fixed period the rate will revert to 1.75% above base. What the ME staff are saying over the phone is wrong.
Member Since February 2016 - Comments: 977 - Articles: 1
2:07 PM, 14th February 2018, About 8 years ago
Reply to the comment left by Mark Alexander at 14/02/2018 – 13:19
Thank you Mark – I will check the terms of the original mortgage. I think we had fixed it for 2 years, and then we have never tried to fix it again. Now apparently impossible to remortgage, as it is a studio, and if it is less than 30m2 , nobody will lend. That is another matter and that why I am interested if they will be open to remortgage.
Comments: 36
3:24 PM, 14th February 2018, About 8 years ago
Topaz finance limited has the same address as Computershare who own the Deposit Protection Scheme DPS. Computershare also set up a service to administer UKAR a few years ago.
The boss of Topaz finance who own Rosinca is called Richard Banks.
The former boss of UKAR was also called Richard Banks. Might be the same guy?