(first timer) Nram seem to be having a laugh

like_it_used_to_be

I got into debt about 4 years ago when i was laid off from work. Since then I have worked my fingers to the bone to pay back the debt on my mortgage (previously Northern Rock, now became Nram). they have been letting me have part and part repayments or interest only the last few years so I could pay more money to the arrears, but I finally got to a place where I thought I could have the debt gone in the next 12 months and they've said I have to go back to full repayments and pay less on the arrears(because I can make the full repayments) instead of letting me pay interest only or part and part for these next and waht would have been my last 12 months of arrears. What it has done has pushed the debt back to Aug 2016 to finish. I find this really unfair as I can't move mortgage companies and they can't offer me a new deal as they had their bankers lincience removed.
All I want is to pay the debt off and get on with my life. I feel like they're doing it delibrately.
Does anybody know if they are allowed to do this, or are they just making more money out of me knowing i'll move as soon as I can when the debts gone?

Florida2013

Hi, not sure if they are 'allowed' to do this or not but I doubt they would do it just to keep your mortgage with them. To move your mortgage over I think you need another credit check and if you've had arrears up to now then it's unlikely another bank would take you on a mortgage. Have you spoken (face to face) to a financial adviser at the bank?

longtermplanner

I can see why it feels unfair, but you aren't going to lose money, as the 'extra' is being used to repay your mortgage, increasing your equity.

like_it_used_to_be

I know I can't move, not just because of my credit rating but because mortgage companies won't take on customers with arrears. Because my deal with what was Northern rock expired while I was in arrears they couldn't offer a new deal which could of put the arrears back into the mortgage because they lost they're bankers licence. It seems odd that if I offer a solution to pay off the remaining arrears within 12 months after helping me out this far, why would they move the goal posts?
As far as I'm aware Nram who manage Northern Rocks arrears customers do not have an office you can visit.