Northern Rock End of Mortgaged Deal (Merged Threads)

MarkyMarkD

The fact that your mortgage is paid by ISMI isn't something a lender is going to report to credit reference agencies. All they report is whether you pay on time or not.

Not claiming ISMI doesn't make any sense to me.

Being on annual interest isn't a reason not to switch product or remortgage. It doesn't work the way you seem to think. But you certainly won't be able to remortgage whilst you are unemployed.

Self-certification mortgages are (a) very hard to get and (b) very expensive, so once again I don't understand why you would want to do that, once you are back in the employment market.

picardygirl

So much for NR saying they'd let their customers know before christmas which side of the company our mortgages would be allocated to........... or has anybody heard ???

john_mac83

picardygirl wrote: »

So much for NR saying they'd let their customers know before christmas which side of the company our mortgages would be allocated to........... or has anybody heard ???

Haven't heard a thing. Was hoping someone else might of by now. The wait continues....

catwoman150

picardygirl wrote: »

So much for NR saying they'd let their customers know before christmas which side of the company our mortgages would be allocated to........... or has anybody heard ???

I got a leaflet with my statement. "Our plan for the future," It just explains that they are going to be two companies in the future. It doesnt say when or which company I will go with.

MarkyMarkD

I don't see the rush in knowing. You can't do anything about it sooner that will be a benefit of knowing, can you?

picardygirl

catwoman150 wrote: »

I got a leaflet with my statement. "Our plan for the future," It just explains that they are going to be two companies in the future. It doesnt say when or which company I will go with.

Yeah i got one of those leaflets too .... it says on the back we aim to complete by the end of year ..... but am sure i read somewhere else customers would be informed by Christmas ........ unless i just made that up, cant see why i would do that though

MarkyMarkD .... i know its not going to made a blind bit of difference when we are told, i'm just impatient

Becles

Just popping in to see if anyone else had heard which company they are going to be with, and see that nobody is any of the wiser. I know there is no rush to find out, but it would put my mind at rest a bit as I'm stuck with whoever they put me with.

I'm still part time self employed earning a low salary with DIY accounts. Still not financially linked to husband as his credit record has got even worse so it wouldn't be prudent to have my squeaky clean credit record assosiated with his.

Northern Rock fixed rate ran out and I've been on SVR since. I haven't been offered a new deal from them.

Cheltenham and Gloucester wrote to me through Northern Rock and said they were keen to offer me a mortgage but I got turned down on affordability based on my income alone. I've also applied to Co-op (long standing current account and savings customer) and Nationwide (long standing savings and credit card customer) but they both turned me down for a mortgage too due to my low income.

I've got about 30% LTV and have never missed a mortgage payment, and have overpaid by about £300. I'm hoping that will keep me with the "good bank" and I can get a good deal from them in the future.

MarkyMarkD

I think that if the credit crisis has taught lenders anything, it is the fact that they ought to underwrite deals for existing borrowers too - i.e. not let all customers freely have the best rates. Doing so is simply throwing profit away.

So, in your circs, Becles, I wouldn't be super-confident that they will give you a good deal simply based on LTV. It is not hard for them to ask a few affordability questions too.

gratefulforhelp_2

We didn't even get the leaflet!

jacklia

Just checked Northern Rock website - it states "Customers do not need to take any action. We will be writing to all customers during January to confirm which company holds their account."