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Nram

Glasgood
Glasgood Posts: 12 Forumite
edited 1 March 2015 at 8:39PM in Mortgages & endowments
Hi,

Can anyone advise, is NRAM now about to be taken out of public ownership i.e de-nationalised ? I have a mortgage with NRAM so I am wondering what effect this would have.

I came across a link at NRAM, sorry I can't post the link as I'm a new forum user, but you can google the heading and date below to find the article.

UKAR has commenced the potential sale of a portfolio of mortgages
19 June 2014



I'm not a financial expert but it seems to me that it looks like something is about to happen.





Thanks

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Northern Rock was nationalised in February 2008. The run down of NR's business is now administered by NRAM. The lending book of what was Bradford & Bingley is also with NRAM.

    NRAM has sold mortgages on previous occasions. The largest tranche being to Virgin Money.

    Given that NRAM is supported by a loan from the Treasury (UK taxpayers) unlikely that the business will ever be privatised. More likely the loan and mortgage books will simply come to a natural end. NRAM writes no new business.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Well it might mean things change, but no more than they can already change. I guess your interest rates might go up if you're on variable, but NRAM can put them up already anyway.

    I don't think it changes much, you would still want to be trying to get yourself into a position where you can remortgage to a regular bank

    ps this is the link you mean
    http://www.ukar.co.uk/media-centre/press-releases/2014/19-06-2014
    Changing the world, one sarcastic comment at a time.
  • amnblog
    amnblog Posts: 12,768 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Your mortgage terms are what they are whomever owns the mortgage book.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Glasgood
    Glasgood Posts: 12 Forumite
    stator wrote: »

    ps this is the link you mean
    the link

    Yes that it the link :)
  • Glasgood
    Glasgood Posts: 12 Forumite
    Thank you all for your replys.
This discussion has been closed.
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