What are Northern Rocks penalties?

Mips

We fixed into a 5 year term, we have until December 2011 to go.

How much would it cost us to switch to a variable rate? What percentage will the penalties be/charges?

Cheers

_Andy_

Check your KFI / mortgage offer or ring NR for an exact, up to date figure.

Mips

_Andy_ wrote: »

Check your KFI / mortgage offer or ring NR for an exact, up to date figure.

I am trying to but my husband isn't here yet and I don't have access to the account/not named!

I have warned him to be home before 6pm!

Am I likely to be very scared by the figures!? :eek:

Nonshy

you won't be able to switch to variable rate.

Just ask for them to check ERC... I imagine you will be looking at 2/3/4% penalty plus any HWC... so probably a few grand at least

Mips

Nonshy wrote: »

you won't be able to switch to variable rate.

Just ask for them to check ERC... I imagine you will be looking at 2/3/4% penalty plus any HWC... so probably a few grand at least

No, they said there is no variable rate. So what will happen in 2011?! When the fixed rate ends?!

This is what it will cost:

£5240
£250 fee for something else!


They should never have let us remortgage anyway as the back end of the house was falling down :mad:

Nonshy

Dippychick wrote: »

No, they said there is no variable rate. So what will happen in 2011?! When the fixed rate ends?!

This is what it will cost:

£5240
£250 fee for something else!


They should never have let us remortgage anyway as the back end of the house was falling down :mad:

£250 Discharge Of Mortgage fee... standard mortgage charge.

2011 you will revert to SVR, currently 5.09%, but you can't switch early!

Mips

Nonshy wrote: »

£250 Discharge Of Mortgage fee... standard mortgage charge.

2011 you will revert to SVR, currently 5.09%, but you can't switch early!

I know

Really upset!