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Over Payments

money2008
money2008 Posts: 89 Forumite
in Mortgages & endowments
Hi
Just a quick question
I currently have a mortgage with Northern Rock
Do you think it is safe to start making over payments?
If Northern Rock went out of business would this effect us?
Thanks

Comments

  • I,_Brian
    I,_Brian Posts: 191 Forumite
    Check your terms and conditions to see if the mortgage allows for over payments, and if so with what restrictions.

    If Northern Rock were to go bust the assets would simply be resold to another company, but because NR is effectively owned by the British government now, I really don't think you'll see them go bust anyway.

    2c.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    They allready went bust.

    If you overpay you mortgage you just owe less.
This discussion has been closed.
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