UKAR ARENA | A NEWSLETTER FOR DEBT ADVISORS | SPRING 2016 | ISSUE 11 | UKAR-ARENA.CO.UK
WELCOME.
Welcome to the latest issue of ARena magazine –
bringing you up to date news and views from the
debt advice industry.
Produced in time for this year’s conference season,
we hope you’ll find it an interesting read during what
will undoubtedly be a busy time.
Here at UKAR we have been busy progressing two
ambitious transactions, in line with our mission to
maximise value for taxpayers.
STUART LAIDLER
Debt Advice Policy Analyst
UKAR
As you may have seen, in November 2015 we
announced the sale of £13bn of mortgages and loans
to Cerberus, who separately announced that they had
sold on a £3.3bn portfolio to TSB.
This is a complex process and is expected to complete
in the summer, at which point we will contact all
customers affected by the transaction to inform them
of the change in ownership.
There will be no changes to the terms and conditions
of our customers’ accounts as a result of this sale
and both Cerberus and TSB have agreed to leave
the management of these loans with the servicing
arm of UKAR.
Separately, in May we announced that we had signed
a contract to transfer our mortgage servicing operation
– the part of our business that provides day-to-day
support to our customers – to Computershare.
During this time, for customers it’s business as
usual and our Debt Advice Strategy team continues
to invest time and resources into developing
solutions that promote genuine financial resilience
and sustainability.
As we all know, the debt advice landscape has been
undergoing a period of intensive change and we are
always looking for ways to support customers through
this evolution.
Our long-term strategy, centred around building
strong partnerships with the debt advice sector,
aims to ensure customers continue to receive
appropriate advice as the financial landscape evolves.
In this issue of the magazine we speak to the
FCA about the implementation of their authorisation
regime and discover more about plans to engage with
companies (and clients) who don’t make the grade.
We have also gathered the views of leading industry
voices to get their take on how best to provide help
and support to the increasing number of people
struggling with priority debts.
We’d love to hear what you think so please do get in
touch about this, and any other aspect of our ARena
content, to share your thoughts at ukar-arena.co.uk
Happy reading.
This is great news and provides stability and
continuity to our customers who will continue
to have their mortgage or loans serviced by
our existing skilled colleagues.
Stuart Laidler,
Debt Advice Policy Analyst, UKAR
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