Questions for brokers and distribution partners about MPowered residential mortgage transfer to Rooftop Mortgages
Why is my customer's mortgage being transferred?
MPowered’s residential mortgage portfolio is being transferred to Rooftop Mortgages (Rooftop Mortgages Limited) as part of a planned transition. This is a standard commercial transaction and does not affect their mortgage terms or the way your mortgage is serviced.
Will my customer's interest rate or mortgage terms change?
No. Their interest rate, product type and mortgage terms remain unchanged.
Will my customer's mortgage payment be affected?
No. Their monthly mortgage payments will continue as normal, unless they change in line with their existing mortgage terms (for example at the end of a fixed rate period).
Does my customer need to do anything?
No. The transfer is administrative only and does not require any action from your customer. They should continue to make your mortgage payments as usual.
Who will service my customer's mortgage after the transfer?
BCM Global will continue to service their mortgage, using the same servicing team that currently supports MPowered borrowers today.
Who should my customer contact if I have questions?
They can contact Rooftop Mortgages on 0333 014 4474 or by email. Customers should quote their mortgage account number when contacting them.
Will my customer's mortgage account number change?
No. Their mortgage account number will remain the same and should continue to be quoted when contacting Rooftop Mortgages.
What happens to my customer's direct debit?
Your Direct Debit will continue automatically and you do not need to set up a new payment.
Will my customer receive confirmation of the transfer?
Yes. MPowered will send a notification letter before transfer, and Rooftop Mortgages will send a welcome communication letter after the transfer confirming their account details and contact information.
What happens to my customer's personal data?
Their personal and financial information will transfer to Rooftop Mortgages in accordance with data protection law, including UK General Data Protection Regulation (UK GDPR). Both MPowered and Rooftop Mortgages comply with all legal obligations on data protection.
Can my customer redeem, port or make overpayments to my mortgage?
Yes. Their right to redeem, port their mortgage or make overpayments remain unchanged and continue to be governed by your existing mortgage terms and conditions.
Does this affect MPowered Buy-to-Let mortgages?
No. This transfer relates only to MPowered’s residential mortgage portfolio. MPowered’s Buy-to-Let mortgages are not affected.
What happens to post-completion enquiries or contract variations?
Post-completion enquiries and contract variation requests relating to mortgages that transfer to Rooftop will be reviewed by Rooftop Mortgages. Brokers should contact Rooftop Mortgages directly by email.
Who should I contact for servicing queries relating to transferred mortgages?
For servicing queries relating to mortgages that transfer to Rooftop Mortgages, brokers should contact Rooftop Mortgages directly on 0333 014 4474 or by email.
Who should I contact for broker panel or future lending enquiries?
Brokers should continue to contact MPowered for questions on broker panel, intermediary relationships, or future lending.