Mortgage sold to Kensington

[filrobbo]

Hi everyone , I have revived a letter today from GE Money Home lending ,,informing me that my mortgage as sold to Kensington ,does anyone know the reason as to way.

[Dorabell]

and me also:|

[harris1997]

I had a letter to say mine has been sold to Prestige finance

[Andyorch]

http://www.consumeractiongroup.co.uk/forum/showthread.php?443276-GE-transferring-my-mortgage-account

 

The above was at April 2015...nothing more recent.

 

Andy

[harris1997]

Thank you, I will take a look

[filrobbo]

Hi everyone hope you are all well, Just a quick one, my mortgage as been sold by GE money to Kensington does this mean my contract with ge money is now void, so should I get a new contract from Kensington stating I now owe them the money.

 

 

 

 

Thank you.

[Ruleoflaw]

Hello

 

 

No, your existing agreement with GE Money stays the same as you had with the original mortgagee (bank). Your contract terms will not have changed and neither will your interest you pay, everything should stay the same. So you will not get a new contract. Banks etc share liabilities (mortgages on their book) in case there are several defaults which effect makes the bank bankrupt. This is normal, and you have nothing to worry about. New customers to Kensington will be on different contract terms to you.

[citizenB]

There was another thread in respect of GE selling mortgage accounts to Kensington.. hold tight I will go and find a link.

[citizenB]

Apparently you started a thread on November 7th 2015 on the same issue - I have merged these for you.

[filrobbo]

Sorry yes I had forgotten it's my age , ok thank you.

[infoseeker]

Hi guys I have had the same phone in today to pay my Mortgage and GE money told me they have sold my Mortgage to Kensington

 

now here is the question , I was never inform of this , does this mean now I am Mortgage free ?

 

also what if , say Kensington default charges are different than GE Mortgage ? can I challenge this and be Mortgage free ?

 

 

any input on this matter would be very much appreciated