Northern Rock End of Mortgaged Deal (Merged Threads)

Mary_Hartnell

http://www.uksa.org.uk/Demonstrations.htm

luckyfool

link

I imagine this means they will not be putting the same pressure on their customers to leave and might potentially start offering some new deals to existing customers . . . fingers crossed for you guys that are effected.

Nonshy

IcklePickle wrote: »

BBC reporting the new government insurance scheme: https://www.northernrock.co.uk/mortgages/existingCustomers.asp

"The new state-controlled insurance company would provide cover in the event of bank customers defaulting on their loans.
It would allow banks to pay a fee to have their bad loans underwritten by the taxpayer up to a certain level."

Do you think this means NR might start offering deals to existing customers coming off fixed rates? If they can be insured against the risk of bad debt, even though their risk is high since lots of us (NR customers) are on 100-125% mortgages?

No because they wan to reduce their mortgage book and repay BOE loan.

£15.7bn of the £27bn borrowed has been repaid.

Can't see NR offering existing customers remortgage deals until that has been repaid.

And even if they did customers on 100%-125% mortgages would not be getting a better rate than current SVR.

princess_loki

i went over to svr with nr on 1st december. they have written to me again about going over to llyods tsb.

the offered me fixed for 59 months at 5.09% then variable rate. if i took it up then it would start in april.

it says on the letter that the overall cost for comparison is 4.4%apr (don't really understand this...)

at the moment i am not in a position to take this up even if i wanted to as my job finished in december and oh is going in to hospital in february.

the girl keeps calling me and trying to get me to sign up - trying to convince me that rates are going to go up soon...

this is obviously worrying me now - should i be thinking about getting into another fixed rate or are they trying to scare me into it??

thank you for any advice

loki x

b0rker

princess_loki wrote: »

i went over to svr with nr on 1st december. they have written to me again about going over to llyods tsb.

the offered me fixed for 59 months at 5.09% then variable rate. if i took it up then it would start in april.

What is your Loan to Value?

clairet707

Nonshy wrote: »

No because they wan to reduce their mortgage book and repay BOE loan.

£15.7bn of the £27bn borrowed has been repaid.

Can't see NR offering existing customers remortgage deals until that has been repaid.

And even if they did customers on 100%-125% mortgages would not be getting a better rate than current SVR.

It was announced yesterday they will be offering existing customers remortgage deals

http://news.bbc.co.uk/1/hi/business/7837135.stm

deefadog

I have just found out about the online account with NR that's allows you to view your mortgage details and amount left - But the information there is different to what i ahve on my paper documents regarding when the fixed deal ends - The online says June 20011 and our papers say October 2011. (October was when the first payment came out) So i assume this is right for the 5 year fixed deal? The way things are going, the earlier one would suite me better

Anyone else noticed this discrepancy?

Also how are the Customer Service team at Northern Rock - Helpfull??

princess_loki

b0rker wrote: »

What is your Loan to Value?

dont really understand the loan to value thingy..... please could someone explain?

cheers,
loki x

still not sure but house value is around £120 and outstanding mortgage is £80......

IcklePickle_2

clairet707 wrote: »

It was announced yesterday they will be offering existing customers remortgage deals

http://news.bbc.co.uk/1/hi/business/7837135.stm

Brilliant news!

Remains to be seen how competitive the deals will be, but great news that at least there'll be an option to fix with NR

zipman23

princess_loki wrote: »

dont really understand the loan to value thingy..... please could someone explain?

cheers,
loki x

still not sure but house value is around £120 and outstanding mortgage is £80......

Well I only got me a C in GCSE Maths but to me thats 66% LTV