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northern rock together mortgage query

chester19760
chester19760 Posts: 86 Forumite
in House buying, renting & selling
Hi I currently own a 2 bed tce took mortgage out about 12 years ago and got a together mortgage from northern rock is 50,000 and 22,000 unsecured loan which i stupidly took out as a 1st time young buyer. Anyway 12 year later I now have a family and would ideally like a house bigger the house was up for 80,000 reduced to 75,000 now and has been on the market nearly 2 years and only received interest from renters wanted to buy for as little as poss.
Anyway I wanted to ask if I do end up selling and renting for a while can i keep my unsecured loan on or do i have to pay it off with the mortgage? Tia :beer:

Comments

  • poppy10_2
    poppy10_2 Posts: 6,588 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    If you sell and just pay off the secured part, then you keep the unsecured loan but the interest rate on this will rise considerably
    The KFI should spell it out.
    poppy10
  • robatwork
    robatwork Posts: 7,304 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    poppy10 wrote: »
    This post is sponsored by MoneySupermarket

    I am aware of the buyout/sellout but is this sig something poppy10 has requested or knows about or is it the start of some incipient advertising?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    chester19760 wrote: »
    Hi I currently own a 2 bed tce took mortgage out about 12 years ago and got a together mortgage from northern rock is 50,000 and 22,000 unsecured loan :

    Why haven't you been repaying the capital in that time?
  • chester19760
    chester19760 Posts: 86 Forumite
    I have been paying it off it's not gone down much but I have made regular monthly payments its good to know that I can keep the unsecured I just assumed id have to pay the lot off thanks :)
This discussion has been closed.
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