On 26 April 2018, UKAR announced the sale of two separate portfolios of buy to let and owner occupied mortgages to an investor group led by Barclays Bank plc.
The final stage of this transaction is now complete and legal title to the loans included in the sale have been transferred. Barclays Bank plc have appointed subsidiaries of Topaz Finance Ltd (Topaz) to hold the legal title to these loans.
All customers affected by this transaction have been contacted to update them on the change of ownership. A key consideration was the continued fair treatment of customers and there will be no changes to the terms and conditions of the loans as a result of this transaction.
ENDS
Notes to Editors
- Approximately 38,000 Bradford & Bingley (B&B) and Mortgage Express accounts were included in the transfer. Barclays Bank plc appointed Siberite Mortgages Limited and Rosolite Mortgages Limited (subsidiaries of Topaz) to hold legal title to these loans.
- The buyer decided to leave the servicing of the loans with Computershare Loan Services.
Media Contact:
Brunswick:
Jonathan Glass / Nick Cosgrove
Tel: +44 20 7404 5959
Email: ukar@brunswickgroup.com