Northern Rock End of Mortgaged Deal (Merged Threads)

Keith

picardygirl wrote: »

Keith - Its obviously not as clear cut as new customers or existing customers accepted on new deals (ie, in the last few months) get retained by NR ...... sounds like semanticist took out his mortgage November 2009 and is still with NRAM .......... so they obviously passed their credit scoring/affordability etc etc in November 2009 yet not deemed "good enough" to be retained by the company that gave him a mortgage 6 weeks earlier .......

He said 6 weeks before collapse which was between 2007-2008.

pault123

I've had my letter today telling me i'm now on the NRAM part of the business.

Though at the end of December they were offering me a very attractive fixed rate for another 5 years, but only gave me 14 days to decide if I wanted it.

Do you think if I took the new 5 year fix i'd have been put on the "good" side? and as I didn't take it they've moved me to the "bad" side?

So now i'm out of my fixed period and on the SVR, looking to remortgage soon anyhow - is there really any downsides of me being on the bad side with above in mind?

Alisonb1975

What was the 5 year fixed rate they offered you? Also how long before your deal finished did they offer you the new deal? We havent had a letter yet but it doesnt finish until March so its maybe a bit early yet. I cant remember at what point they sent us out a letter last time.

picardygirl

Keith wrote: »

He said 6 weeks before collapse which was between 2007-2008.

I didnt read the same way as you .... i thought he meant 6 weeks before the separation of the two companies .... ie late 2009 ....... maybe a bad example then ..... but i'm sure ive read customers were offered new deals late 2009 and have still been moved to NRAM ....

catwoman150

I got my letter the other day and I am going to be with NRAM. I have been with NR since 2001 and have 73% LTV. I have been on a 5 year fixed till last sept. I am just over paying as much as I can afford to at the mo.

Alisonb1975

After reading another thread I have realised that they will only put us on the standard variable rate and not offer any further deals! They obviously dont want to keep their good customers so we will move as soon as we can!

Becles

Alisonb1975 wrote: »

They obviously dont want to keep their good customers so we will move as soon as we can!

They want to wind down NRAM, so the quicker you leave the better it is for them!

Reason123

Hey

Ive been reading through this thread for the last few hours and im a little confused.

Why is NRAM regarded as bad?
It seems there are lots of really good/well paying people with low % LTV.
Is it because there are also the likes of myself who is in negative equity that is letting the team down (Id guess im at around 125% LTV)

Due to my negative equity and being on SVR, am I best to overpay as much as I can?
As, how I see it, I have 2 hopes - House price's magically rise or I pay the 25% negative plus build 20% positive before i can potentially get a deal elsewhere?

Suppose il hope for price rising whilst paying off as much as I can?

Evergreen1964

This doesn't appear to make sense at all, we have a a 225,000 mortgage at 75%LTV, 5 year fixed at 4.99%. this is due to finish in Oct this year. We have never missed a payment but have been placed with NR AM. Reading some of the other posts we should have expected to be placed with NR PLC. Thought NR would want to hold on to their best customers.

Somebody somewhere must know what the selection criteria was!!!

deefadog

New customers & l;oand with good LTV from what i have seen! I have 40% LTV (Been a good boy with payments etc) and i am with NRAM.

I am not really bothered as i can move when my fixed ends! ( hope they keep the SVR down low for those that have high LTV's!