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Nram mortgage ?
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somberfate
Posts: 61 Forumite
Ok just wondered if anyone can help...
Bought my house 8 years ago and had my mortgage with northern rock, was fixed for 3 yrs then fixed again for 5.
Since then the mortgage was passed to their nram company...through my mortgage i always worked, till having my children 2 years ago.
My current term is due to end this novemeber, after having phone calls to nram they told me that they do not have a license to offer new fixed terms, and only Northern rock do that.???
And that my mortgage will just slip into a interest rate one?? being out of work I currently am not able to move companies??
Can anyone help? i was hoping to have it re-fixed again....
Bought my house 8 years ago and had my mortgage with northern rock, was fixed for 3 yrs then fixed again for 5.
Since then the mortgage was passed to their nram company...through my mortgage i always worked, till having my children 2 years ago.
My current term is due to end this novemeber, after having phone calls to nram they told me that they do not have a license to offer new fixed terms, and only Northern rock do that.???
And that my mortgage will just slip into a interest rate one?? being out of work I currently am not able to move companies??
Can anyone help? i was hoping to have it re-fixed again....
0
Comments
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You will revert to NRAM's loyalty standard variable rate, which IIRC is 4.54% (?).
There are no other options open to you, I'm afraid.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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