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Help Nr Mortgage
etch_2
Posts: 92 Forumite
Help due to move in 3 weeks mortgage has been agreed with Northern Rock, Are the funds going to be there on Transfer ? Or should I be looking elsewhere and hold every thing up, but that would mean getting another survey etc....:eek: are there anyone else in the same predicament , I NEED SOME ADVICE PLEASE, Or where to lookfor a good motgage running out of time x :wave:
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ive read most of these posts and they all seem to contradict one another, I think its a wait and see predicament, but if I wait too long i wont be able to move so sad. Need a crystal ball x :wave:0
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As long as NRK don't go bust, you should be fine - as the Bank of England are letting them borrow against the mortgages they're writing they can advance you the funds and then borrow the vast majority back from the BoE.
If they go bust then they won't have the money to lend to you!
I'm not sure what happens if you've exchanged contracts but not completed. I don't know if they segregate the cash on exchange to guarantee it's there when you come to complete. I'd find out before exchanging if I were you. Exchanging but not completing is a nightmare I understand.0
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