Northern Rock trying to retain me after fix ends!

ManAtHome

The good/bad split is more about how much of a deal any buyer will get, and how much dross is left with taxpayers. Bit of a political nightmare with 6 months to go before the election, so anything can happen (or not).

Shouldn't think it would have much impact on mortgages anyway - NR has effectively been a 'bad bank' for the last couple of years, and they don't seem to be behaving diferently than any other bank (unless you've noticed anything as a customer).

pault123

Thanks for replies guys! This good/bad bank is news to me, LOL i've missed the post/news detailing this. Can anyone provide a link?

And would ing/woolwich come into this good/bad split or not be affected?

LizEstelle

Whatever the case may be, hopefully it all feeds in what little revival there may be in competitive pressure.

Do us all a favour and tell them that you're considering better offers from elsewhere before you actually sign up again!

trish123

I got that letter also and our fixed rate ended last year.have to decide by the end of Nov.

Radiantsoul

picardygirl wrote: »

just a thought ....... would NR offer new deals to current mortgage customers to then a month down the line put them in the asset side of the company ......

Of course. Loans to customers are always assets(debits balances on the balance sheet). Bad debt provisions are credits against those assets.

To not put them on the balance sheet would be fraud!

pault123

Purely based on the higher SVR after the 2 year track/fixed rate ends i'm tempted by ING or Woolwich.

LizEstelle i'm going to ring them and make them aware of the better deals

picardygirl

Radiantsoul wrote: »

Of course. Loans to customers are always assets(debits balances on the balance sheet). Bad debt provisions are credits against those assets.

To not put them on the balance sheet would be fraud!

Sorry, didnt word it properly ...... meant to say, would NR offer mortgage customers new deals, then a week or so later put them in the category of the asset management ("bad side") of NR mortgage side as they are splitting NR mortgages into two this side of Christmas ......