Mr. Paul Joyce:

I am looking at a letter from Promontoria in which it states that it is writing to let a customer know some important information about their loan and that Promontoria has agreed to transfer its interest in the loan. The company bought the loan from Ulster Bank and is now transferring it to a third party. This means not only that the loan was sold to one party but that it is being passed on to another entity to deal with. The borrowers are simply informed that this is happening, without consent being sought or notice provided.