Mortgage worry - NRAM

Thrugelmir

beckandsimon wrote: »

Gotta say, if I seem defensive, I'm sorry, I appreciate all your replies, I really do. I'm just so low tonight and appreciate any views on how the bank are likely to be towards me etc.

I'm not in the slightest negative. My comments are delibrately made to provoke you to think carefully, nothing more. As ultimately whatever you do is your decision.

NRAM will see your other debts, as undoubtably they'll perform a credit check as part of their process.

GavB79

When letting a property you tend to look at the return versus an interest only repayment rather than a capital repayment. Maybe this would make it look more feasible?

Edit: Sorry, just noticed you are already on IO

leta21

Complete your CTL appliation and return to NRAM. They will not credit check you, but need to do a affordability calc on your rental income based on 120% of your mortgage payment on interest only.

Its £100 fee for upto 1 year or £250 for a perm let.

Provide any much info as possible include your personal circumstances. They normaly agree 1 year.

also..

From 7th Feb will waive/refund ALL ERC's!
This includes FULL ERC and any HWC (help with costs) but does NOT include the DOM (discharge of mortgage fee).

However customers will not be contacted and only those customers who happen to call and ASK will be informed. Also this will not be available until the 7th of Feb so don't waste your time calling before then.

Cheers

Leta :T