Northern Rock mortgage online balance

dwsjarcmcd

marky_b wrote: »

I was looking round for a new deal and noticed that NR where doing a 15 year fixed @4.89%, I didn't think that I could have afforded the extra payments but I found out from on online calculator that I only had to up my payments to £540 a month. I took this deal in Aug 2005.

Kaz2904 wrote: »

OOOH, my worry bell is ringing now!
Does that mean you are tied in until 2020? If you are then you need to be very careful that you don't go all gung ho at the end and get stung with massive repayment penalties.

What a strange comment, if you could still get that rate today, it would sell out in days. Shows that long term rates can be winners!!

walter_raleigh

Hi , in my case i post a cheque for over payment to Northern Rock at their address shown on the reverse of my statements.
I also include a small letter to confirm the inclusion of the cheque in the envelope.
They in their turn send a reply stating "thankyou for your overpayment of" amount, date.
they also include the balance of the mortgage account , and what my next monthly repayment will be, as i have opted to keep the term running for the full 20 years, but have an agreement to reduce the monthly payments.
Thus far I have reduced my monthly payments from around £850 a month to £650.
They also will allow me to draw back any overpayments should the need arise.
Its a form of saving.
In 5 years time with luck my repayments should be about £150 a month, sweeet