end of fixed term with Northern Rock

kazakastan

hi this june we are coming the end of our fixed rate mortgage deal with Northern Rock,can anybody reccommend anyone for remortgage?also would we be better on the variable rate(as it is low)or look for another fixed rate deal?

beecher2

Depends on many things - your Loan to Value, your credit files, your salary ratio, and your attitude to risk. If you post a bit more detail - particularly the amount of outstanding mortgage and value (realistic) of your home, that'd be a help

kazakastan

the mortgage is approx £33.000, with eleven years left to run, the value is appox £100.000, we only have one income at present , with no real debt, just the mortgage.

VIGILANT22

which NR are you with...........NRAM or NR plc

kazakastan

hi, its nr plc

VIGILANT22

First thing to do is ask NR what they have to offer, they could possibly offer you something lower than their own SVR...Have you been with them 7yrs?

kazakastan

Hi we,ve had a letter from NR,saying they are not doing any more mortgage products and basicly they are wanting us to move on

VIGILANT22

I asked you was it NRAM or NR plc...you said plc!...so it is NRAM (northern rock asset management)

kazakastan

i,m soooo lost off now! whats the difference with it all?

kazakastan

it was a 5 year deal

picardygirl

kazakastan ..... last month (Jan 10) NR split there mortgages into two parts ...... NR Plc kept some mortgages and are offering new products to there customers ..... everybody else who were originally with NR Plc got moved to NRAM who are not offering any deals to there customers. You would have got a letter informing you of the changes.

Assuming you are with NRAM as they are not offering you a new deal, you either need to source a new lender or assuming when your fixed rate ends you go to NRAM's SVR if thats what your mortgage goes to after your fixed rate ends.

Hope that helps a bit