Do we Re-Mortgage with Northern Rock?

loopylaw1

We are with RBS at the moment and on the variable, interest only. We want a more secure mortgage and have decided to go for a repayment. We have spoken to a broker and he has suggested a Northern Rock Flexi mortgage which seems to fit in nicely with our future plans, but we are really unsure about NR. Advisor has told us this is the only bank doing the flex mortgage and also that as the bank is now owned by the government it makes it one of the safest. Need some advise before proceeding.

barnaby-bear

loopylaw1 wrote: »

We are with RBS at the moment and on the variable, interest only. We want a more secure mortgage and have decided to go for a repayment. We have spoken to a broker and he has suggested a Northern Rock Flexi mortgage which seems to fit in nicely with our future plans, but we are really unsure about NR. Advisor has told us this is the only bank doing the flex mortgage and also that as the bank is now owned by the government it makes it one of the safest. Need some advise before proceeding.

I could understand being concerned over stability for your savings account.... who cares if the mortgage company goes t1ts up with them owing them money the mortgage book would be sold on and who ever buys it would be bound by the original terms so if they are ok.... but anyway savers piling into NR because it's underwritten by the government and so secure.... if the product itself is good it being NR shouldn't be of concern...

prowla

Just remember the reports of how aggressive NR were in pursuing the unfortunates...