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NRAM renting our house out
Rapished
Posts: 174 Forumite
We've applied to NRAM to rest our house out, simply because its to small for the family now and we've brought another, we've applied to them stating this and they have charged us £700 pounds for the pleasure, we have to pay that every 12 months.
They have stated there will be items to review in the letter confirming all this which is yet to be sent but the lady refused to say what would be in the letter over the phone,
Anyone know of any catches with NRAM and letting, will they demand anymore payments, or add a chunk payment at the end etc?
They have stated there will be items to review in the letter confirming all this which is yet to be sent but the lady refused to say what would be in the letter over the phone,
Anyone know of any catches with NRAM and letting, will they demand anymore payments, or add a chunk payment at the end etc?
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Comments
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Your the iwner, they work for you, why are you not telling them what you want from them?0
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What is NRAM?0
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What is NRAM?
"Northern Rock (Asset Management) plc (also referred to as NRAM) is a British asset holding and management company which was split away from the Northern Rock bank in 2010. The company continues to service a residential mortgage book of approximately £50 billion.
Virgin Money now own the "good bank" side of Northern Rock plc, however the government have said that they will not be selling Northern Rock (Asset Management)."0 -
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What is NRAM?
Well you remember how this economic crisis was caused by many things including people who lied about their income to get a mortgage and people who took out 125% mortgages? Well in order to cleanse the banking system of these people they have all been rearranged onto the books of NRAM. Basically anyone on those books helped to cause the credit crunch and now they are being squeezed and tormented with ever increasing rates due to their negative equity.0 -
Not sure what this means - lender can charge what they like for the priviledge of "owner" letting the property.er, hardly. NRAM are the ones the OP owes thousands of pounds to. NRAM are the ones who can dictate the terms given the OP is looking to change the basis of their borrowing.
SOrry got wrong end of the stick, thought this was the letting gent, didnt seem clear in the ops post. my mistake0 -
no worries - I just re-read the post and can see why it was confusing0
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