Northern Rock End of Mortgaged Deal (Merged Threads)

kingstreet

clausorin_radu wrote: »

Disperate for an advice, what risk is there if I take up a loan from a different lender before completion date? We accepted the mortgage offer but need a new car. Will I have problems with my credit scoring?

If your case is pulled for random audit just before completion, the search will show up and you may find your mortgage offer is withdrawn.

Please make no changes until on, or after completion of your new mortgage.

georgeswindow

Most people who are buying a home for the first time have barely heard the term mortgage, let alone understand what it is. In fact, a lot of people who are buying their second or third home aren’t entirely sure of the process involved either, so let’s start from scratch and explain it.

georgeswindow

The mortgage lender, nationalised during the credit crunch in 2008, said the deals should appeal to those who have lower deposits.

georgeswindow

Customers with a 10% deposit will pay 5.99% if they fix their repayment rate for two years, while a three-year fixed-rate deal is 6.49% and a five-year fixed-rate deal is 6.59%.

georgeswindow

In 2008 the Northern Rock bank was nationalised by the British Government, due to financial problems caused by the subprime mortgage crisis

georgeswindow

On 14 September 2007, the Bank sought and received a liquidity support facility from the Bank of England,[1] following problems in the credit markets, during the current financial crisis.

dorme

georgeswindow wrote: »

On 14 September 2007, the Bank sought and received a liquidity support facility from the Bank of England,[1] following problems in the credit markets, during the current financial crisis.

what are you doing?!

if you want to post pointless information, do it in one post, i dont see how any of this is relevant to the thread at the moment, most people posting in here already know how mortgages work as they have/had one through nram/northern rock.

blackjack2006

Hi this is my first posting and wondered if you could help.
we are now with nram and coming and our fixed rate is up in feb 2013.

our fixed rate was for 5 year at 7.49%

i am assuming we will move the SVR when our fixed rate ends.

our mortgage is broken up as follows

£85000 secured mortgage
£8000 unsecured loan
totally £93000

can anyone tell us roughly what our payments are likely to be based ont he current svr?

thanks

Thrugelmir

blackjack2006 wrote: »

Hi this is my first posting and wondered if you could help.
we are now with nram and coming and our fixed rate is up in feb 2013.

our fixed rate was for 5 year at 7.49%

i am assuming we will move the SVR when our fixed rate ends.

our mortgage is broken up as follows

£85000 secured mortgage
£8000 unsecured loan
totally £93000

can anyone tell us roughly what our payments are likely to be based ont he current svr?

thanks

On basis of 20 years remaining and the mortgage being repayment. Monthly cost in total £603

blackjack2006

mmm now im confused - yes we have £20 years remaining
we currently pay £651 monthly
so i would have thought it would have dropped by more than that considering nearly 3% difference in interest rate.