NRAM Transfer of Equity

Lisa1988

We wen toff our paperwork on 16 April and took a mortgage holiday as suggested by NRAM, they told us our transfer of equity would be completed in three months. We are now almost five months down the line and no further. Although they have agreed the transfer we are yet to receive any paperwork to sign. Every time we ring up we get a different version of events, and it is getting really frustrating. As I am not yet named on the mortgage they refuse to speak to me. We don't have the money to go else where so are forced to stick with them. I'm fed up of quoting the FSA's treating customers fairly line every time I phone up as that doesn't seem to make any difference. We will formally complain once this whole mess is sorted out but in the meantime I have some questions...

Realistically how long should a straight forward transfer take?

Is there anything we can do to speed the process up?

Any advice would be much appreciated!

kingstreet

From application, to the point the solicitor files the Land Registry change, should be two to three months and cost in the region of £600.

Frankly, there's nothing you can do. NRAM is a Government body winding-down the operation and there is no legal or competition pressure you can bring to bear. Ideally, they want you gone ASAP.

Why are you in such a hurry to have it completed? There's no benefit that I can think of that would warrant worrying too much about it. Other than just wanting it out of the way and done, of course.

Thrugelmir

Are you still taking a payment holiday?