Hi all,
I've an ECB based interest only tracker mortgage taken out on an over priced house back in the stupid days, see Mortgage life assurance premium doubles - time to check my options.
We have never missed a single monthly payment and never had any issues whatsoever with Leeds Building Society.
Today I got a letter saying they were selling my mortgage to Pepper Mortgages with effect from Oct 18th which they stated was their right under the terms of the mortgage agreement and that I don't need to take any action.
I assume they have offered a book of their mortgages to the market and Pepper have paid the most to acquire them which is all grand and understood but I'm a bit nervous that Pepper will somehow try to move the goal posts and find a reason to call in the mortgage which isn't scheduled to terminate until 2042.
Does anyone here have any experience with their mortgage being sold, especially when there was no arrears or ever any record of arrears or any other sort of non performance by us and in particular if Pepper were the company who took over your mortgage?
Maybe I'm being a bit nervous without any reason but maybe it's true that the paranoid survive!!
Also, if Leeds are selling my mortgage do I have any sort of right to match Peppers offer and buy it back myself?
Thanks for reading.
I've an ECB based interest only tracker mortgage taken out on an over priced house back in the stupid days, see Mortgage life assurance premium doubles - time to check my options.
We have never missed a single monthly payment and never had any issues whatsoever with Leeds Building Society.
Today I got a letter saying they were selling my mortgage to Pepper Mortgages with effect from Oct 18th which they stated was their right under the terms of the mortgage agreement and that I don't need to take any action.
I assume they have offered a book of their mortgages to the market and Pepper have paid the most to acquire them which is all grand and understood but I'm a bit nervous that Pepper will somehow try to move the goal posts and find a reason to call in the mortgage which isn't scheduled to terminate until 2042.
Does anyone here have any experience with their mortgage being sold, especially when there was no arrears or ever any record of arrears or any other sort of non performance by us and in particular if Pepper were the company who took over your mortgage?
Maybe I'm being a bit nervous without any reason but maybe it's true that the paranoid survive!!
Also, if Leeds are selling my mortgage do I have any sort of right to match Peppers offer and buy it back myself?
Thanks for reading.
