mortgage by n.rock

payless

regularsaver1 wrote: »

are they ok to call their previous clients though?

should actually have obtained express premission to be able to do so.

dunstonh

should actually have obtained express premission to be able to do so.

Express permission seems to be a strange thing. A couple of IFAs with another network get an express permission form signed with every client they see. There is no such requirement with my network and I cannot see a reason for it. Although this may be due to differing requirements for IFAs and mortgage advisers (my network being mainly investment based and their network being mainly mortgage based).

beingjdc

plane_boy2000 wrote: »

Hes lying. BOE are supporting N'rock not trying to ruin their business.

I agree that he's lying. That said, Northern Rock mortgages were presumably offered at low fixed rate. Since they're borrowing from the Bank of England at 6.75%, people on low rates transferring their mortgages away and repaying the capital would presumably be pretty handy for them!

green1970

If you've got penalties, I certainly wouldn't switch, especially if you're on a fixed rate and know your payments won't change until the date the rate ends.

Having said that, Northern Rock rates being offered at the moment aren't particularly competitive so when you do come towards the end of your deal, don't just take on a new deal with them, have a good look around first to see if you can find something better.