On 2 April 2019, UKAR announced the sale of NRAM residential owner-occupied mortgages and unsecured loans to Citi.
The final stage of this transaction is now complete and legal title to the loans included in the sale have been transferred. Citi appointed Topaz Finance Ltd (Topaz), an FCA regulated firm, to hold legal title to the loans under the trading name of Heliodor Mortgages.
There are no changes to the terms and conditions of the loans as a result of this transfer and all affected customers have been contacted to update them on the change of ownership. A key consideration of the transaction was the continued fair treatment of customers. A comprehensive package of protections was included in the sale agreement to ensure customers receive the same protection for the life of the loan as they did under UKAR’s ownership.
ENDS
Notes to Editors
- The mortgages will continue to be serviced by Computershare Loan Services, who are regulated by the FCA.
- Approximately 55,000 NRAM mortgages and loans were included in the transfer.
- The sale was announced in April 2019. To view the announcement click here.
Media Contact:
Brunswick:
Jonathan Glass / Nick Cosgrove
Tel: +44 20 7404 5959
Email: ukar@brunswickgroup.com