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NRAM Question
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lker
Posts: 2 Newbie
Hi,
Hoping that someone may know something about NRAM?
I'm assuming that as they are the asset management side of Northern Rock, that I would be unable to take a loan from the equity on my property?
Does anyone know if this is the case, or if I should ask the question directly to NRAM?
Many thanks
Hoping that someone may know something about NRAM?
I'm assuming that as they are the asset management side of Northern Rock, that I would be unable to take a loan from the equity on my property?
Does anyone know if this is the case, or if I should ask the question directly to NRAM?
Many thanks
0
Comments
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There is no facility to borrow new money of any kind from NRAM.
If you move house, you can "port" upto the same mortgage as you have now, or less, but you can't borrow more if you trade up.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 -
A quick check reveals;-
HTHCan I take out additional borrowing with NRAM?
NRAM remains in government ownership and can no longer offer any additional borrowing or unsecured loans.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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