Northern Rock end of fixed rate

romilly_2

Our fixed rate ends and we go onto their variable rate beginning of december..have enquired online about mortgages elsewhere but as we only put 5% deposit down and northern rock arranged it on 4.8 times our joint income because my partners job is professional i think we will struggle for another company to take us on....our mortgage is due to increase by nearly £500 per month...r we really stuck with northern rock and is there any chance of the svr coming down in the near future... is anyone else in this awful position?

Toughluck

There are plenty of people in your position and a lot more more people in even worse situations.

If you put down a 5% deposit it is likely you will have a high LTV (unless you have made enormous lump sum payments). The likelihood is that you are stuck with them I'm afraid.

andrewmp

Northern Rock have reduced their SVR by 0.15%

whiskey1983

My Together mortgage ends on 1st Dec and I'm switching to HSBC as they have given me the best offer so far. I borrowed 109% LTV in Dec 06 and should be down to 80% LTV on 1st Dec with the unsecured paid off on 1st Nov.

Try speaking to a broker - London & Country have been recommended by people here and I found they were very helpful - but also try banks direct, the ones that don't appear on broker's panels. I was told that HSBC are one of those and I've tried them and got a good deal (in my opinion) that does up to 90% LTV. All their mortgages are on their website so it might be worth taking a look?

Best of luck!