Northern Rock End of Mortgaged Deal (Merged Threads)

picardygirl

Just a shame we've got such a long way to go

Maybe it has something to do with part and part mortgage, as we've requested the overpayment come off the interest only part only.

deefadog

Yep must be that!

Don't defeatist Take it chunk by chunk - set small goals and will come down rapidly! - That's what i am telling my self :rotfl:

picardygirl

I must admit i was amazed at the difference in the outstanding balance just after 3 months, used to get our statements and you see all that money paid in yet the balance doesnt move very much, yet with even a £100 overpayment cant believe how much difference its made in just 3 months! By checking on line makes me feel good too - i've thought every month what i could have spent that £100 but because i'm seeing a drop already, its making me want to pay more off if and when we can !!!!

Big concern is also when our fixed rate finishes in November 2011 what the interest rates will be, and what position NR will be in ..... so our thinking is the better LTV we've got the more choice we'll have.

zipman23

Its a shame I popped the question or we could be putting any extra money we had towards overpaying our mortgage rather than saving for our wedding! I'll learn!

deefadog

Hi all, what's the reference you put into the online banking when making extra payments? Is it my mortgage account number?

Many thanks

picardygirl

deefadog wrote: »

Hi all, what's the reference you put into the online banking when making extra payments? Is it my mortgage account number?

Many thanks

I would imagine so, but maybe to be on the safe side give NR a quick ring - dont want to be paying into someone else's account

Mary_Hartnell

Is there not someone famous for paying 5K to a complete stranger because of finger trouble with on-line banking, who was told "tough luck" by their bank?
Or is that an urban myth?

deefadog

Not sure Mary, i would have thought you could get it back though?

Anyways to answer my question:

sortcode: 08-61-15 (Same for everyone)
Account no: 00000101 (Same for everyone)

Then as a 'reference number' put in your full mortgage account number.


Also My payments are cleared off the Mortgage in one/two working days!

:beer:

picardygirl

deefadog, thanks for that info ..... i make my overpayments by DD, but useful to have that info, then can pop a few bob to overpay too, when i've got a bit extra ...... i'm going to save those details in my online banking regular payments x

b0rker

Until I see what the specific details of any deals that I may be offered from either bank then I have no concerns as to which bank I am placed with. There seems to be an assumption that terms with the good bank will be preferential over a bad bank. I very much doubt that will be the case. Possibly this would be the case if this was an entirely private bank but as NR is so dependant on tax payers (my!) money then it will not be happening in this instance. They cannot create an environment where my debt is described as bad and then offer me a poorer deal than those they have described as good. I would not stand for that and I am sure that there are many others who would feel the same. I took my mortgage out with Northern Rock not Bad Bank Inc. They cannot transfer my debt to a bank with such negative connotations and then not offer me a good deal. I can imagine it could be difficult to move the debt elsewhere for many people. I have about an 82% LTV so I am sure I can escape if need be but I can imagine all hell breaking loose if people on 100% LTV are dumped into a bad bank and put on 10% IRs etc... If anything they will need to offer people in the bad bank very low IRs in an effort to avoid repossession. They cannot take people who are surviving on the current 4.9% SVR and kill them on a higher IR in a "bad bank". That would be against all kinds of terms and conditions. As I say I signed up for a mortgage with Northern Rock and I will be offered the same terms (or better) as the good bank customers or massive amounts of !!!! will hit the fan for Northern Rock.