Northern Rock End of Mortgaged Deal (Merged Threads)

princess_loki

phew!!! this is really good news for me!!! my first payment on SVR will be 1st dec... can anyone tell me if the rate cut will be in place by then???

i did wonder why nr have been hassling me to go into another fixed deal - been getting at least one phonecall a week - in reality i suppose that they didn't know about this rate cut but i do have a lot of equity in the house and for four years have always paid on time....

little do they know that i walked out of my job over 8 months ago and have been paying using my savings (that have now run out!!). thankfully today i have just got back from my training day and am now the proud supervisor of a christmas grotto!! so you can all imagine how worried i have been with no actual income and not claiming benefits!!!

hopefully over the next few months things will sort themselves out and by the middle of next year i will be able to decide if i should stay with NR (or whoever they are now) and pass the credit checks ok!!

thank you to everyone on this thread for making me realise that i am not the only person in this situation and also to the people who have kept an eye on the news and given us updates :A :A

NOTHAPPYWITHNR

This is the best news for a long long time.

lotto-dreamer

princess_loki wrote: »

phew!!! ....thank you to everyone on this thread for making me realise that i am not the only person in this situation and also to the people who have kept an eye on the news and given us updates :A :A

You're certainly not alone! I've been 'drowning not waving' for a very long time but have sold my house now - well, almost there - so I know what it's like to keep smiling, hoping those 3am worries will soon be over, and nobody will ever guess. Glad the interest rate (and your festive job!) will make the world of difference for you too :j

(I think somebody has said new rates will be effective from 1 December! But, you might need to check this)

princess_loki

lotto-dreamer wrote: »

You're certainly not alone! I've been 'drowning not waving' for a very long time but have sold my house now - well, almost there - so I know what it's like to keep smiling, hoping those 3am worries will soon be over, and nobody will ever guess. Glad the interest rate (and your festive job!) will make the world of difference for you too :j

(I think somebody has said new rates will be effective from 1 December! But, you might need to check this)

it has to be said that what with the following:
no job
long standing insurance claim after being burgled
interest rates / credit crunch
and oh waiting for a major op

things have been a little difficult over the past 6 months - i think that in retrospect i may have been a bit difficult to live with

BUT... thankfully things are looking up with the festive job, insurance nearly sorted (thanks to complaing to financial ombundsman) and oh getting op confirmed for early next year...

glad that you have almost sold your house and i do hope that now both you and everyone else on here can go to sleep tonight and not have those nasty worries that wake us all up in the 'wee small hrs'

i almost think that in celebration i may go into the attic at the weekend and take a look at my x-mas stuff!!! :xmastree: :xmassign: :snow_grin :xmastree:

maybe we could all get into the dfw style of things and wear silly socks tomorrow in celebration?!?!?!?!?

loki x

allisonj

oh my god this is the best news ever! our fixed rate ends on 31st jan 09 and we would have gone onto the SVR with Northern Rock at 7.39%, we were paying 7% anyway so we will save quite alot of cash if the rate stays at 5. something %, I suppose alot of other people will be happy about this too!!

zipman23

We're on 5.89% due to go on to SVR 1st Jan. I'm happy now. Was going up £130/month. It might only be 0.05% less than what we're paying now but it all helps! Is it every 3 months that the BoE rates are reviewed?

MILKYBHOYO

1st Thursday of every month. They say BOE rate could go as low as 2% next year. I dont see it being passed on, especially NR. It must have broken their hearts to be forced by Government to pass on rate. But you never know..I'm £130 per month better off as a result

zipman23

Why not just keep paying the same amount...unless you need it for other things of course. How much quicker would it reduce? Anyone?

angel6_2

princess_loki wrote: »

phew!!! this is really good news for me!!! my first payment on SVR will be 1st dec... can anyone tell me if the rate cut will be in place by then???

i did wonder why nr have been hassling me to go into another fixed deal - been getting at least one phonecall a week - in reality i suppose that they didn't know about this rate cut but i do have a lot of equity in the house and for four years have always paid on time....

little do they know that i walked out of my job over 8 months ago and have been paying using my savings (that have now run out!!). thankfully today i have just got back from my training day and am now the proud supervisor of a christmas grotto!! so you can all imagine how worried i have been with no actual income and not claiming benefits!!!

hopefully over the next few months things will sort themselves out and by the middle of next year i will be able to decide if i should stay with NR (or whoever they are now) and pass the credit checks ok!!

thank you to everyone on this thread for making me realise that i am not the only person in this situation and also to the people who have kept an eye on the news and given us updates :A :A

Hiya NR have been hassling you to go into anther fixed rate with them, are you already a customer?, as I am and my fixed rate finished next month and as far as they have told me there arent offering any new deals for existing customers which is why ive been having sleepless nights and worrying myself silly.....so im amazed if you have been offered something, unless im reading you wrong.

angelx

lotto-dreamer

zipman23 wrote: »

Why not just keep paying the same amount...unless you need it for other things of course. How much quicker would it reduce? Anyone?

http://www.moneyextra.com/mortgages/calculators/overpaying-your-mortgage.php