Kensington mortgages have transferred our account to Mars Capital Finance

[Spent2much]

From 18th Feb 2023 our account is now in the hands of Mars Capital , in December last year I was diagnosed with stage 1a endometrial cancer , since had surgery and its gone . But because of my anxiety and fear of what I have just been through my husband has taken time off work (self employed) to look after me as there is nobody else who can .

We contacted the mortgage when the interest rate when really high and Kensington were good they said they would look at ways to help us , but the thing is we have no income right now , we have wtc which is just under 400 quid a month , we have not paid the mortgage since November last year when I started with the biopsy tests and Ct scan etc , I'm in a real state of anxiety even though my surgery is done there are other issues with my anxiety over this . I'm waiting to hear back from PIP (MacMillan helped me fill the form in )
SO now I have explained my situation so it is clear , on the 17th Feb. we got a letter from Kensington saying they need an income and expenditure sent in to them , my husband went on the website to see how much we owe and what the payments should be and it says 'account inactive' and to contact them .

But we got a letter from Kensington a few weeks ago saying the mortgage has been transferred over to Mars Capital from 18 Feb 2023 and they will be in contact with us in due course .

Not sure what to do now , do we wait for Mars Capital to write to us ?

And when they do should we ask them for a copy of the mortgage agreement because we have requested this about three times from Kensington and they haven't sent it , they just sent us a load of statements , we did have the agreement , but we just cannot find it , we even offered to pay for a replacement but they just ignored our request .

We would like to look over the original agreement because Kensington mortgages say that any transfer is in the agreement .

Any suggestions would be appreciated . Thanks

[The Tech Clerk]

For Info:-



Who are Mars Capital? Mars Capital Finance Ireland DAC ('Mars Capital') is a credit servicing firm. We will manage and service your mortgage loan as legal title holder. Mars Capital is regulated by the Central Bank of Ireland.

[Still Waving]

Selling off non performing loans has been a feature of recent years. An example of this is the Bank of Ireland selling off non performing mortgage loans to CarVal and Mars Capital a few months ago.

https://www.irishexaminer.com/busine...-41002124.html

It can't hurt to ask Mars for a copy of the mortgage agreement when they start writing to you.

[Spent2much]

So they sold off none performing loans, but purchased ours ? makes no sense lol

[Still Waving]

So they sold off none performing loans, but purchased ours ? makes no sense lol

No - Mars Capital were involved in the purchase, not selling.

[Spent2much]

No - Mars Capital were involved in the purchase, not selling.

Okay well once they contact us my husband will speak to them . He may have to close the business and sign on universal credit and apply for the SMI loan , its not enough to pay even half the interest , but its better than nothing , but there is a 39 weeks waiting period and you cannot work during that time or the waiting time starts again , I don't know how the mortgage supplier will feel about that because the interest only mortgage is now £600 a month and SMI only loan out £40.59 a week lol, universal credit is about £525 a month for a couple so we couldn't make up the difference , then during the waiting period each month makes more arrears . Money really doesn't bother me now I have been through the worse time in my life its devastated me and my husband and we just want to live life now . I cannot find any answer anywhere about how the mortgage providers behave just receiving SMI or whether they go for repossession .

[Still Waving]

For Info:-



Who are Mars Capital? Mars Capital Finance Ireland DAC ('Mars Capital') is a credit servicing firm. We will manage and service your mortgage loan as legal title holder. Mars Capital is regulated by the Central Bank of Ireland.

That is actually the Irish offshoot of parent company Mars Capital Finance Ltd, who are based in Glasgow. They, in turn, are part of the Arrow Global Group. I would think that it is the Glasgow Company who now have the ownership of the mortgage.

[Spent2much]

Selling off non performing loans has been a feature of recent years. An example of this is the Bank of Ireland selling off non performing mortgage loans to CarVal and Mars Capital a few months ago.

https://www.irishexaminer.com/busine...-41002124.html

It can't hurt to ask Mars for a copy of the mortgage agreement when they start writing to you.

We could do with the agreement as we have mislaid ours , its here in the house somewhere , but we can't find it .

[The Tech Clerk]

My husband has sent them a SAR , see what they do .


please keep to this thread not run two.

[The Tech Clerk]

Note:- This thread is still open and is the one in use.

[Spent2much]

My husband has sent them a SAR , see what they do .


please keep to this thread not run two.

I never realised I had posted two , I'm under a great deal of stress at the moment , and can't even remember making a second thread .

[Spent2much]

Note:- This thread is still open and is the one in use.

Thanks, I was wanting to read the other thread as I think I posted about PIP and someone made a comment saying that I would get a phone call and not an assessment . This happened on Tuesday and I was just asked a few questions that were not on the form , she said she was going to pass it on that day to see if I needed a a face to face assessment . I hope this is going to be that I am awarded it . Could do with the help so we can at least pay part payment to the mortgage as that is one of their options .

[Spent2much]

That is actually the Irish offshoot of parent company Mars Capital Finance Ltd, who are based in Glasgow. They, in turn, are part of the Arrow Global Group. I would think that it is the Glasgow Company who now have the ownership of the mortgage.

Yes the Glasgow company we sent them a letter recorded delivery asking for a copy of the agreement , then my husband told them about our situation and my illness , so waiting for them to reply , we hope to be able to lower the payment at least for a few months and praying I get PIP as it would help so much , its difficult to get , but MacMillan helped me fill in the form and he said I scored more than enough points , so now we wait .

[Spent2much]

My husband has sent them a letter requesting a copy of the agreement , see what they do .


please keep to this thread not run two.

I've edited this post because it was not a SAR that was sent .

[Spent2much]

Update .
We have a case manager from Mars Capital , our fears of them being aggressive have proved wrong, we have been looked after and haven't had any threats to take the house off us , they have agreed a reduced payment for now , refunded all the late charges , and we think we are getting support for mortgage interest , the message on my journal was that they have all the forms back and in the process of adding it to our claim , so keeping an eye on that . I got awarded PIP and hubby gets carers , financially now we are doing okay with the other benefits added on .

We know support for mortgage interest is a loan , but for now we discussed this and agree that stabilizing the mortgage is the most important , so we are thankful for the help we have received from Mars Capital ,not agreed to pay anything off the arrears as yet and we haven't been approached to do so, so for now we are very happy everything has sorted itself out .

My health is improving and I will see the gyno oncologist every three months for three years , then the final two will be every four and then six . I have been told I will never be discharged but will only get appointments if any issues. So things have improved greatly . I am definitely in a much happier place than this time last year .