We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Northern Rock fixed term coming to an end

Options
BenC_2
BenC_2 Posts: 57 Forumite
in Mortgages & endowments
Hi, my Nothern Rock 6.99% interest mortgage is coming to an end soon. Does anyone know what happens next, my LTV is way to high so I cant switch to another company will I just go on a variable rate?

Regards
Ben

Comments

  • The_J
    The_J Posts: 1,250 Forumite
    Yes Benjamin. My advice would be to continue paying what you have been to reduce the mortgage balance faster. Your new rate should be 4.74%.
    The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.
  • BenC_2
    BenC_2 Posts: 57 Forumite
    Excellent thanks, if thats correct I can make overpayments of £150 a month paying what I do now that should help reduce the mortgage quite alot.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture