Mortgage Worries

Whataflippinmess

My mortgage is with Natwest (on interest only at the moment), but I also have a 9K credit card debt and 1K overdraft with them. They are my current bank, so I know I need to change bank accounts. Could my mortgage be affected if I only pay nominal payments on other debts with them?

DizzyDizzy

I'm in exactly this situation at the momment - our mortgage is with Natwest and I also have a credit card and my overdraft with Natwest. The credit card and overdraft are now part of a DMP along with other debts. Natwest don't like this, and have only grudgingly agreed to go along with the DMP. The one thing I have noticed is that Natwest tend to link all these debt together with the mortgage, so if I miss a mortgage payment, as I did last month when I paid it late, they then throw out the DMP agreement and get very nasty and I have to ask the CCCS to write to them all over again regarding the DMP. But it can be done.

toothfairybuttkicker

Watch the Natwest like a hawk.

I have had loads of calls from them after they invited me to my mortgage review. Which trust me was not a review but an attempt to make me merge my CC debt and Loan into my mortgage. They gave me all the infomation and told me id be £300 a month better off and could save up a slush fund for maybe a trip to disney or a new car. After reading all the info i decided that it wasn't a good idea and that over all id be better throwing money at my debt as and when i could. i only have 2 years left on my loan then i can pay that £250 a month off my CC and i will pay it off before the 13 years i have left on my mortgage is up.

plus My kids dont want to go to Disney they are 2 and 17 weeks!!!!!

Whataflippinmess

Funny you should mention that, they called me to arrange a meeting too! Supposed to be going next week.

toothfairybuttkicker

as i said watch your back. Listen to everything they say then go away and think about it. do your own maths and DONT sign anything!

KingElvis

They're not know as Natpest for nothing.

DizzyDizzy

Totally agree with everyone else re the "account reviews". I went to at 2 or 3 when I still had a current account with them and all they want to do it add your unsecured debt into your mortgage and make it part of your secured debt. Never agree to anything on the spot - always go home and think about it!