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  • FIRST POST
    • snoot80
    • By snoot80 18th May 17, 2:50 PM
    • 10Posts
    • 1Thanks
    snoot80
    Nram mortgage nightmare
    • #1
    • 18th May 17, 2:50 PM
    Nram mortgage nightmare 18th May 17 at 2:50 PM
    Hi there I am looking for some advice please. In our haste to get a mortgage we took out a northern rock 100% mortgage in 2006. Seemed like a great idea at the time. The biggest catch with this mortgage is that they made our mortgage up with a loan to pay for the property. Our mortgage is only 87000 but the loan is 22000 leaving us owing 109000. Our house was valued at 110000. Because northern rock went bust we are now NRAM which is an asset management company who no longer offer new mortgages or deals so our APR is ridiculously high at something like 4.79%!! We tried to remortgage but because of a history of poor credit which is starting to improve and the fact we look like we have a 22000 loan which isn't going down we got turned down. We passed affordability but that was it!! Anyhow we're fed up. We've outgrown our house. It needs a shed load of work doing to it and we want to move. We are currently considering just selling up, paying back the mortgage with its stupid loan, renting for a year or 2 and starting fresh with a deposit!! We are financially stable and I think this is achievable within the next 2 years. Has anyone any thoughts or think this not to be a great idea?!! Would be grateful for any thoughts or advice please!
Page 1
    • pogofish
    • By pogofish 18th May 17, 10:36 PM
    • 7,008 Posts
    • 6,984 Thanks
    pogofish
    • #2
    • 18th May 17, 10:36 PM
    • #2
    • 18th May 17, 10:36 PM
    You should maybe get this moved to an appropriate forum as I have this sneaking suspicion that you are not Martin Lewis....?
    • snoot80
    • By snoot80 19th May 17, 11:18 AM
    • 10 Posts
    • 1 Thanks
    snoot80
    • #3
    • 19th May 17, 11:18 AM
    • #3
    • 19th May 17, 11:18 AM
    I'm new to this and am finding it very hard to navigate. Where have I posted this?
    • pogofish
    • By pogofish 24th May 17, 10:10 PM
    • 7,008 Posts
    • 6,984 Thanks
    pogofish
    • #4
    • 24th May 17, 10:10 PM
    • #4
    • 24th May 17, 10:10 PM
    In the forum dedicated to Martin Lewis's own activities, nothing else.

    The basics of forum navigation are covered in the Forum Help video and MSE Forum Guide linked off the top of every page - They will inform you nicely.
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