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Northern Rock - together mortgage
mick_1967
Posts: 55 Forumite
Daft question probably? Does anyone know what the following means on my GF's statement: Available drawdown - unsecured funds available to you on your current mortgage. £1300.
Assume its the amount overpaid to unsecured loan just need clarification?
Assume its the amount overpaid to unsecured loan just need clarification?
0
Comments
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It means your GF can borrow a further £1300 at whatever interest rate is defined in her northen frock Together Product, normally the same as her mortgage rate.
But dont take my word for it, someone in the know should be along in a while and completely clarify this for you.
Beware though, if this person is called Robert Peston, he is the little marble who stood at the top of the snow covered debt mountain (aka Northen Rock) cried "Avalanche" and then began to roll down it without much thought for the poor little people who live at the bottom. :cool:0 -
yes it means that sum of money is available for borrowing (not for free!!)0
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