We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Fixed rate mortgage Northern Rock.
markp1_2
Posts: 1 Newbie
My fixed rate mortgage with Northern Rock ends in April. As they aren't offering new deals for existing customers we will go straight onto their variable rate (currently 4.79 i think). The problem is that due to the current financial climate our house price has dropped to about the amount we actually owe on it, i.e. we have no equity. Are we stuck with Northern Rock or does anyone have any other ideas?
Thanks Mark.
Thanks Mark.
0
Comments
-
You'd only be able to get a remortgage if your LTV was under 90% so yes, you're stuck with NR. Suggestions are only that you overpay as much as possible to try to get your LTV down, but it depends on the size of your mortgage how realistic that is. You could go onto the Debt Free Wannabee sit for help on how to save money elsewhere in your household budget as the concern would be that you'll be stuck on the SVR when interest rates rise again.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards