Northern Rock End of Mortgaged Deal (Merged Threads)

poppy10_2

cflarry wrote: »

Have NR not got a duty of care to help me ?

No. They are a business, not a charity

Mary_Hartnell

cflarry wrote: »

....do i give up and tell them to shove the house or fight?

The only way to "shove the house" is to go bankrupt; otherwise the debt will follow you around for the next 12 years. That would be a few years of "living death".
How much equity do you think you have?

Alternatives may be to get a second job, take in a lodger, make a moneysaving plan etc. etc.

At least you are not adopting a head in the sand posture and realise life could get tough.


Good luck.

Mary

Hmmm I'm not sure you yet realise just how tough (Is you wife Italian?):
(Reality is discussed here: http://forums.moneysavingexpert.com/showthread.html?p=11191465#post11191465 )

40th bday in ROME
Have spent three days trawling through hotels on Tripadvisor and other hotel websites...Im on a budget need to find a decent hotel or B@B in or on the outskirts of Rome near a train or metro station for my wifes 40th birthday surprise!!

Already sorted the flights the dates are in OCT 4th - 9th

Any ideas or advice would be welcome

I know Rome Italy is expensive looking at my budget I can spare 300-400 pounds

cflarry

The holiday surprise was before I had a letter from NR to say no thanks we aint putting you on an interest only mortgage get lost! No my wife is English. I have taken on board Martins advice and have saved loads of money per month on different money saving ideas. I do Ebay and carbooting and work 6 days a week.

I am currently trying to reclaim PPI from loans I took in the past.

And yes!

I know they are a business who are totally incompetent! I don't expect charity, I believe my mortage was taken out in good faith and the mess NR has landed people in is not their fault at all.

tylersbabe

Hi posting this just to vent :mad:

Just phoned Northern Rock for redemption statement as fixed rate finishes Jan 09 (have dreaded Together mortgage). Am aware I am jumping gun but as is a fixed rate with a fixed payment thought this would be no problem, and was intresed to see what I would owe.

Only for very nice lady on the phone to advise me I can only get a redemption statement for upto five months in advance. So they now not only will not renew my mortgage I can only get a redemption statment up till Oct 08

Pointless rant over......... sure there will be valid reason for this I just don't get it

kingkano

It's not a fixed payment actually - you can overpay any amount at any time. I guess there are just too many variables to issue a redemption figure for so far in advance. 5 mths is really quite long, RBS last year wouldn't give me one longer than 60 days!

If you haven't made any overpayments or missed any payments/late etc then you can just dig out your key facts document. Part of this is a listing of your outstanding balance per year through the deal, just need to add on the current redemption charge (dunno what this is £250?).

tylersbabe

kingkano wrote: »

It's not a fixed payment actually - you can overpay any amount at any time. I guess there are just too many variables to issue a redemption figure for so far in advance. 5 mths is really quite long, RBS last year wouldn't give me one longer than 60 days!

If you haven't made any overpayments or missed any payments/late etc then you can just dig out your key facts document. Part of this is a listing of your outstanding balance per year through the deal, just need to add on the current redemption charge (dunno what this is £250?).

Thanks proably knew that really just had a moment of throwing toys out of pram .
I do over pay on my mortgage so this will affect balance but think I can work it out myself with a bit of time and a calculator :rotfl:.

Just decide to get myself in a tizz for no real reason :rolleyes:

kingcor

My fixed rate with NR will be coming to an end on 1st July, on checking today their rates offered are not competitive and they are no longer offer fixed rates, its clear they are trying to get rid of existing customers, but to our cost. We went to them because historically they have always been competive, now with no choice we have to move out mortgage to a competitor, pay redumption costs, pay back their £1000 gift to attract you in the first place and of course other fees to a new lender.

Mary_Hartnell

Life is a b1tch....................
I've bought things and then tried to get a repair a few years later only to find that the manufacturer is out of business and no spares are available. I suppose that after the powers that be fiddled about for three months, instead of doing a European central bank and shoving it into a forced merger with one of the big boys, we should be happy that all the tax payers in this country are paying a subsidy to keep it afloat; rather than letting it go under last Xmas and bringing the cheap deal to an end 6 months ago?

kingkano

Mary_Hartnell wrote: »

Life is a b1tch....................
I've bought things and then tried to get a repair a few years later only to find that the manufacturer is out of business and no spares are available. I suppose that after the powers that be fiddled about for three months, instead of doing a European central bank and shoving it into a forced merger with one of the big boys, we should be happy that all the tax payers in this country are paying a subsidy to keep it afloat; rather than letting it go under last Xmas and bringing the cheap deal to an end 6 months ago?

That would never have happened anyway. SOmebody would have bought the book, or a slice thereof, and would still have honoured the contract. Otherwise people really would have gotten their houses free....

Mary_Hartnell

The liquidator could have been within his rights to demand the full mortgage amount back at the end of the month - where do you think the money comes from:
Widows orphans & trustees?