northern rock end of deal

catchc_2

Hi new to this site just looking for advice really, ill be brief currently with northern rock fixed rate 2 yr deal ends 1st dec 08 (4.39%), obviously we need to remortgage as NR are being very unfair to existing customers by not offering anything other than SVR, our payments will go up by around £350 per month if we do not find another lender/deal, have applied through a mortgage advisor to first active and had a very disappointing valuation of 20k less than we thought! subsequently first active have no 95% mortgages at the moment which is what we now need. The adviser has no 95% deals available to him and recommended we go direct to nationwide.
Have applied to nationwide for 3yr fixed at 6.88% which has been accepted etc just waiting for paperwork etc.
Is this our only option apart from staying with NR which only works out at an extra £80 per month but can we risk the SVR staying the same because we would not be able to afford any more rises.
Any info or advice would be welcomed.
Thanks