Concerned Northern Rock Customer

VIGILANT22

lawdevice wrote: »

what i meant was when people are moved to SVR how much higher does their minimum payment go up by? We're paying around £770 a month at the moment.

we are being moved to NRAM

at the moment the svr is lower than your fixed rate, but it could go up....

get that work done and let out a room...:)

dasilva_2

lawdevice wrote: »

what i meant was when people are moved to SVR how much higher does their minimum payment go up by? We're paying around £770 a month at the moment.

we are being moved to NRAM

Your payment will come down. The current NR SVR is 4.79%. You are paying 5.89%.

VIGILANT22

But dont drop yr payment, this will help you reduce your mortgage quicker

Wickedkitten

make sure you aren't letting your EA friend get your hopes up too much.

picardygirl

VIGILANT22 wrote: »

at the moment the svr is lower than your fixed rate, but it could go up....

........ and nobody knows what NRAM's SVR will be this time next year, so unfortunately what i'm saying lawdevice its too early to say what your payments are going to be at the end of your fixed rate.

lawdevice

I do understand that things are definitely going to change over the year. And that anything could happen with the value of our house.

I just wanted to know what our options are going to be in April 2011 so we can start planning and get ourselves in the best possible financial position.

Thanks for your advice everyone.

Dave

picardygirl

Overpay if you can to reduce the mortgage and keep your credit rating as good as possible .... as you say SVR and house prices are out of "our" hands .

I hope thats the right advice anyway, we are with NRAM too ...... tied in til Sept 2011!

All the best

VIGILANT22

Nobody knows what any lender's SVR will be next year....the v is the clue...variable