We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
NRAM mortgage advice
martay79
Posts: 1 Newbie
Hi forum!
I have a query I hope someone can help me with. !I bought my property in Birmingham five and a half years ago. !It was a northern rock mortgage and 110%... I know a big mistake! !
Currently my mortgage stands at £85,000 plus an unsecured loan of £22,000. !Currently to clear the mortgage I would need to sell my property for £107,000, currently its probably worth £85,000 (if I am lucky).
Me and my partner are looking to buy somewhere together. !I need to get a "consent to let" from NRAM. !I have read some horror stories about NRAM and wondered if anyone had any experience of this or advice?
The other option is seeing whether NRAM will allow me to transfer my mortgage into my parents name. !They own their property outright and have no debts. !Is this possible?
Thanks in advance for your help guys.
Matt
I have a query I hope someone can help me with. !I bought my property in Birmingham five and a half years ago. !It was a northern rock mortgage and 110%... I know a big mistake! !
Currently my mortgage stands at £85,000 plus an unsecured loan of £22,000. !Currently to clear the mortgage I would need to sell my property for £107,000, currently its probably worth £85,000 (if I am lucky).
Me and my partner are looking to buy somewhere together. !I need to get a "consent to let" from NRAM. !I have read some horror stories about NRAM and wondered if anyone had any experience of this or advice?
The other option is seeing whether NRAM will allow me to transfer my mortgage into my parents name. !They own their property outright and have no debts. !Is this possible?
Thanks in advance for your help guys.
Matt
0
Comments
-
NRAM is not taking any new business so, transferring the Mortgage to your parents may not be possible.
CTL may be possible, other forum members should be able to comment on this route.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards