advice please

shootingstarXX

Hi, im a newbie looking for a bit of advice
OH and I have a mortgage with Northern Rock 99,000- mortgage and 5000 unsercured loan.
We have just had a 6 months maternity break from the payments and during this time our fixed rate period has ended. The payments have gone from £700pm to £850 pm.
My question is can we change our lender if we have had a payment break? We cannot afford £850 pm.

thanks
kelly

homer_j_3

you would need to check your mortgage conditions to see if you are in an early repayment period. If not then you can quite happilt change lender.

Question will be though - is your house worht more than your debt now? If yes then great you can look at standard mortgages providing. If not you are stuck with a similar type of mortgage again and should compare these to see if its worth moving as NR will often offer you some options on what rates are available. They are very expensive though at the moment compared to some of their competitors.