Northern Rock End of Mortgaged Deal (Merged Threads)

deefadog

Can't log in either -

We are currently in the process of updating the facility to view your mortgage online, therefore your customer ID is no longer valid. We will write to you shortly to advise when the service is available for you. If you need to contact us about your mortgage, please call us on 0845 602 8301.

I hope whatever happens i can view my account on line!

I have an LTV of around 35% so i should be in the so called good bank?? But no idea what or who that will be.

Paza02

They have disabled access to log in, to see the mortgage balance. I'm sure like many others, it was good to log in and see the balance decrease every month.

Here is what it says when you try to log in
account access disabled We are currently in the process of updating the facility to view your mortgage online, therefore your customer ID is no longer valid. We will write to you shortly to advise when the service is available for you. If you need to contact us about your mortgage, please call us on 0845 602 8301.
If you would like to access Northern Rocks other online services please select ‘re-register’ and create a new customer ID. Alternatively select ‘cancel’.

gratefulforhelp_2

This is pretty awful service. I never managed to log on to view my balance online, tried three times and gave up, it was soooo complicated.

deefadog

It was quite easy to log in, once it was set up, so i hope it's re-implemented ASAP!

enay73

Afternoon Everyone,

today I have called Northern Rock to increase my overpayment and I have found out, which part I will be. Unfortunately my account is on Northern Rock asset. The lady who I have spoken, which is quite nice, she told me that almost 90% of the customers are in the asset scheme.
To be honest I am quite disappointed because it means lot of things, such I will be not able anymore to deal completely my mortgage, like to get a new deal or more borrowing. Also if you would like to borrow some money you are not anymore allowed. I still have my terms and conditions, but it looks like you are completely frozen.
I am scared, as no one knows what will happen. I asked more informations and unfortunately she couldn't answer me.
I dont know how will be regulated, as it is not anymore a bank. Also this kind of system it worries me. Regarding the interests rates, how could be calculated. As it is not a bank anymore, they could decide to raise the interests to get more money in some way. I know its just hypotetic thoughts, but how can they regulate now? It could be likely a way to make more money on us and at the end my fix rate they could decide to get a high rate.
I wouldn't like that. But I have to wait and see, but if my thoughts are likely to became reality I would speak up like everyone else in the same situation.
It shouldn't be a worries to anyone because it's not fair. I am working everyday to get something for myself and I wouldn't like to pay more than I should pay if I was in dealing with a normal bank. Also if it is the case the government should protect us, as the people are keeping these politicians where they are with their gold's salaries and messing up our lives. A normal government should protect us and not let us to pay perhaps a high interest rate. Hopefully it is not going to be the case. But I am not feeling 100% sure. thats' all.
anyone has got any idea?
thanks

enay73

I forgot to say also

if its not anymore a bank and it is something done by a government. Whatever it is in charge, should know that they shouldnt charge so much money because it is not a business and try to keep low interests and get all the money back.
I say if its regulated by a government, it wouldn't be a good point of view charging us more than they should because it's contradictory in some way. A government should help us and not putting us in a bad situations where there are lots of people perhaps with negative equity and no any banks would take us on board.
thats' all.
sorry for my long thread

deefadog

Does this mean you can't borrow back what you have overpaid like you used too?

picardygirl

enay73 ..... am surprised they told you over the phone, i might try and ring tomorrow now and ask what side we are on ..... but after reading your post, assuming the asset side !!!! Would you mind posting what your LTV is? As i did read folks over 80% LTV could maybe go in the asset side ....... after just reading an article in the Guardian (on line), sounds like its more likely to be folks with a 20% LTV might qualify - that certainly counts us out! £80bn of mortgages to go to Asset management £10bn to go to the other side!

.... i know there is nothing we can do, but i am dreading finding out !!!!! Overpay as much as possible, and keep credit rating in tip top condition i suppose!

Span2

Rang yesterday, our mortgage is with 'bad' bank, really annoyed. Been with them a long time, low LTV (owe approx 72% of current value), never missed a payment or made a late payment, very good credit rating, never made late/missed payment on anything else ever!! I asked if our mortgage was part of their securitisation programme, they wouldnt tell me (read on internet that 38 billion pounds worth of securitised mortgages now in the bad bank). Feel let down.

Keith

I'm probably with the bad bank, but I don't really care unless the SVR increases, I know we are stuck with them as our borrowing is somewhere between the 85-90% needed by most lenders.

I will be however, reducing our overpayments this month and putting the payment to the minimum again.

I do feel sorry for those who took on the full together mortgage