petitverdot
Registered User
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- 17
Got a letter in the post from KBC this morning saying they are transferring ownership of my mortgage account to Cabot Asset Purchases Ireland Limited. Date of transfer to be confirmed. All private details will be passed on to Cabot.
The mortgage brief history:
Sold the mortgaged house in 2014 and was left with a shortfall of 55k which i have since being paying monthly at same 4.5% variable rate.
New property found to move to in a few months. The mortgage approval on this had incorporated the negative equity from previous sale and was due to be rolled into one new mortgage. Like a negative equity trade across mortgage typically would.
Questions:
1)Now that they are transfereing to Cabot does this mean i will not be able to bring negative equity into new mortgage seeing as KBC don't own it after transfer?
2)Are these asset companies like banks? What rate will i be charged and who sets the rate?
3) Should i try renew AIP to bring negative equity with me into new mortgage to get lower rate.
I intend asking KBC directly but whether their answers will have my best interest at heart i always doubt.
Thanks
The mortgage brief history:
Sold the mortgaged house in 2014 and was left with a shortfall of 55k which i have since being paying monthly at same 4.5% variable rate.
New property found to move to in a few months. The mortgage approval on this had incorporated the negative equity from previous sale and was due to be rolled into one new mortgage. Like a negative equity trade across mortgage typically would.
Questions:
1)Now that they are transfereing to Cabot does this mean i will not be able to bring negative equity into new mortgage seeing as KBC don't own it after transfer?
2)Are these asset companies like banks? What rate will i be charged and who sets the rate?
3) Should i try renew AIP to bring negative equity with me into new mortgage to get lower rate.
I intend asking KBC directly but whether their answers will have my best interest at heart i always doubt.
Thanks