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Northern Rock Borrow Back Facility Change - Warning!
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opinions4u wrote: »Mortgage lender in "checking the borrower can afford the debt" shock.
Not quite as exciting a headline as "Reckless bank fat cats drive country to the wall" is it?
Responsible and prudent lending can only be a good thing and an affordability assessment makes absolute sense.
I'm glad too that they are being more sensible - this thread was to highlight that NR have altered the "ethos" of the mortgage (i.e. the facility to borrow back your overpayments without jumping through hoops) without informing its customers. Luckily I'm OK, but I (& others) could have quite merrily carried on overpaying without realising the true picture.& as for some happy ending I'd rather stay single & thin
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