Mortgage express

Mummylove4

I'm sure this has come up before but I'm hoping for up to date information. My mortgage is with mortgage express after I was moved there following a merger. They want to get rid of mortgages so have everyone on 4.74% once off any agreed rates. My problem is I can't move as my situation has changed. So I'm stuck with them and not benefitting from the lower interests rates. So first question is can anything be done about being held hostage at this higher rate and secondly has anyone heard how potential rate increases will affect ME's rate (it's not linked to libor). I think I'm stuck and will have to put up with it following a very brief legal consultation but any help gratefully received! Thank you all.

Thrugelmir

Mortgage Express was effectively nationalised when the Bradford and Bingley ran into trouble. Now forms part of NRAM along with the residue lending books of Northern Rock. NRAM are writing no new business. Merely administering the run off of the old.

Unfortunately the ball is totally in your court in order to move forward.

Running down closed books and trading operations is an expensive business. So the interest rate charged reflects a commercial rate. 4.74% is actually below the average SVR across all lenders.