please help me, i need advise on remorgages im on low income and partners out of work

candles_3

hi there, ive been with northon rock for 3 years now and my morgage keeps going up and up. we got a morgage and a unsecured loan with them. any way its gone up again to £650 a month from march, and i really want to switch lender. but because my partner is out of work and were going through a few money probems at the moment i dont have a clue who to turn to.
we have a flat in scotland and and were not sure if its freehold or lessehold because on our documents it crosses them out and says feudal next to it, (what ever that means)
We got in touch with payplan and they got me in touch with another company. but she said she might not be able to help me as we wasnt sure if we was freehold or lessehold.
My monthly income at the mo is £13000 thats including my partners job seekers allowance income.
We have £18000 of debt, but thats getting delt with, we was hoping to release a bit of capital to pay some debts of but we have a £90000 morgage thats including the unsecured loan and the flat is worth about £95000 now.

any advise would be kindly appreiated

danjberry

have you checked with northern rock that you do not have any early repayment charges applicable. if you move lenders you may be hit by this charge from northern rock which could be in the £1000s so i would chekc this before considering remortgaging. also what is your monthly income, surely it cannot be £13000, also how much is yours and is this gross? and how much is your montrhly outgoings to your creditors other then northern rock (the 18k debt)

mhay_3

first of all, feudal is the scottish freehold, so no worries there!

secondly, are you tied into your NR deal, and why is it going up again in march?

regularsaver1

are norther rock offering any other deals that you can switch to?