Northern Rock End of Mortgaged Deal (Merged Threads)

agbs3

westie666 wrote: »

Can someone advise what the svr is now.
I have a together plan (taken out May 2006) and runs out in May 2009

I also have another problem.
We bought our house for £80k, 3 years ago.
Our mortgage is about £78k and our house worth ~£81k

I think we might struggle to get a re-mortgage.
What do people think?

Graham

Exactly the same happened to me, We borrowed 150k with a 10k deposit for a 160k house. We have never missed a single payment but when we came to remortgage in November was told NR would not offer a new mortgage (bet they do now haha!!) and nor would anybody else as the lending criteria had been tightened. My mortgage went from £843 to £1020 and i was worried, luckily for me it is now at £800 ish on the NR SVR but im desperate to be back on a fixed deal, if i could fix now for 10 years i would!! I just like to know what im paying each month!!

b0rker

KE7285 wrote: »

No b0rker - any advice is most welcome!

Im not sure if people tell me this to make me feel better but in Dumfries and Galloway where I live, apparently house prices havent fallen all that much but im a bit sceptical about that. Securing a deposit from another source is also tricky....parents arent really in a position to help - we could sell the car but then we would still have the car loan to pay....suppose its a matter of prioritising.

The chances are that house prices have stagnated in D&G. If you actually wanted to sell then you would have to maye drop a large amount off of what your house would have been valued at in 2007. That being the case then hopefully your re-mortgage valuatino would stay quite high though surveyors are apparently knocking a bit off their valuations to cover some losses. Not sure how that would work in your local area.

KE7285 wrote: »

Think sitting on SVR is the only way for us at the moment. Do you think the SVR is likely to start climbing any time soon?

Sadly I have no idea. No one really does. We can all make predictions but no one knows anything for sure. There are certainly more qualified individuals on this site to make such predictions so I just listen to what they have to say on the matter and will play it by ear come September when we will go onto the NR SVR.

b0rker

katchambers wrote: »

Another 0.5% interest rate cut today, I wonder if NR will pass any of it on? They did with the last one, which is great. Fingers crossed as it will really help us out in the short term.

Kat x

We really need to have this cut passed on to reach some parity with a lot of the other banks SVRs. That is assuming that the other banks don't pass it on.

zipman23

Any news on another cut?

kieran1979

Down 0.3% to 4.79%. Lovely jubbly.

http://news.bbc.co.uk/1/hi/business/7872344.stm

puddinghead77

I have a together mortgage which is due to end this May.

£114 K is mortgage

20k is unsecured loan bit of the together deal

I know the mortgage will come under he SVR which is great as it's current 1% less than my fixed rate. However what happens to the loan part? Is it seperated from my mortgage at the end of the deal and if it is does it come under a different rate?

Thumper7

Hi Pudding

Your unsecured loan will go on the same rate as your mortgage.

D

puddinghead77

Really? Wow that is fantastic news.

stephensdan

Well, I make it around £50 a month I'm going to be saving now. Hope everyone's well, I haven't been around for a bit!

KE7285

Hi, so if my rate just now is 5.89% and i pay £478.04 per month - does anyone know how i can work out what my payments would be on the SVR (4.79%) roughly? Sorry if this is stupid question!