Northern Rock End of Mortgaged Deal (Merged Threads)

sharnad

_Andy_ wrote: »

Most fixed rates will have a specific end date rather than being a full X years. If you check your mortgage offer and KFI the end date will be specified in there.

We agreed on a five year loan period I have the argreement from when we went in to there mortgage advisor in the shop, we then got a house that fell through
We got told if we got another house with them then it would be charged at the same rate
We got another house and they upped the rate so we went back to the mortgage advisor who got on the telephone and it was agreed we would pay the rate we had orginally agreed.
The copy fo this offer was march and it showed showed the end date as 01/04/2009
They took there time sorting out it and we were in danger of losing the house
They said they had sorted it to show the new rate they didnt say they had changed the end date of the loan
I had to rush up to northern rock house to sign it the woman came down and I was told it was fixed and to sign it
Maybe I should have took more time to read it but I was standing at reception with someone waiting for me
I am going to get on the phone to them

MILKYBHOYO

I have just today received word from NR that my SVR Mortgage would be moving from 7.49 to 7.33% from December 08 (Together mortgage). Why is this a month later? Anyone know?

Bibbleq

MILKYBHOYO wrote: »

I have just today received word from NR that my SVR Mortgage would be moving from 7.49 to 7.33% from December 08 (Together mortgage). Why is this a month later? Anyone know?

Same as my rate reduction. I was under the impression that NR were being made to pass on the full 1.5 % not just 0.16% !!

(the cut comes later as it always takes them to to "adjust" everything.

Bibbleq

Just dug out and found my mortgage terms (2 year fixed Together - now variable) and it states: "a fixed rate of 6.39% until August 2008 followed by: a variable rate guaranteed to be below the Northern Rock's Standard Variable Rate ,currently % for the remainder of the term of the loan"

I think thats the terms for the "together" portion of the loan but if you look here:
http://companyinfo.northernrock.co.uk/corporateCommunications/news/article.asp?newsID=209
NR are stating that its SVR is now 5.84% so surly my rate should be below that according to my terms and conditions?

juliesg

Bibbleq wrote: »

Just dug out and found my mortgage terms (2 year fixed Together - now variable) and it states: "a fixed rate of 6.39% until August 2008 followed by: a variable rate guaranteed to be below the Northern Rock's Standard Variable Rate ,currently % for the remainder of the term of the loan"

I think thats the terms for the "together" portion of the loan but if you look here:
http://companyinfo.northernrock.co.uk/corporateCommunications/news/article.asp?newsID=209
NR are stating that its SVR is now 5.84% so surly my rate should be below that according to my terms and conditions?

ive just dug my paper work out too and mine says the same so soes that mean we get a lower rate for the loan parf of the mortgage

Bibbleq

juliesg wrote: »

ive just dug my paper work out too and mine says the same so soes that mean we get a lower rate for the loan parf of the mortgage

It shouldn't be the rates for the mortgage is the same as the rate for the loan. Both are currently the same 7.33 rate as mentioned above for me.

coolchef

Bibbleq wrote: »

Same as my rate reduction. I was under the impression that NR were being made to pass on the full 1.5 % not just 0.16% !!

(the cut comes later as it always takes them to to "adjust" everything.

I am on the Northern Rock SVR and got a letter yesterday and my rate is dropping to 5.59% from 7.09% ( includes the loyalty discount) so they have have passed on the full interest rate cut, mortgage is now under 400.00 a month :j so will stay where i am for now..

ger_ryan22

See my post above lads, woman at NR confirmed that on our Together mortgage we would automatically drop to the SVR (5.84%) when our deal ends, now that ends in Oct 09 but surely yours should be the same?

scotty1971

i got my letter today mine's dropping from 6.49% to 4.99%,so really happy with that

mpavfc

I have had the same letter through today with my secured loan dropping the full 1.5% but my mortage only from 7.48% to 7.33%.

I have just called up the collections dept (the only dept open now) and apparently the full reduction on the mortgage rate will come into affect from the 1st Jan- still good, but not good enough. Why are some customers getting it straight away and others a week later?

I was advised to ring customer services tomorrow and ask that question- will do so.

MILKYBHOYO wrote: »

I have just today received word from NR that my SVR Mortgage would be moving from 7.49 to 7.33% from December 08 (Together mortgage). Why is this a month later? Anyone know?