Comments on: Shit, I Have A Mortgage With Northern Rock!!!!

By: Miss Mini

Miss Mini — Wed, 16 Mar 2011 21:14:18 +0000

My broker has said he may be able to get a remortgage to NR and im a bit worried to say the least!

Am i wrong to panic or is all this NR drama over?

By: Lorraine

Lorraine — Wed, 09 Feb 2011 20:19:46 +0000

My daughter is coming to the end of her 5 year fixed deal with NR… while the country has been paying nice low interest rates she’s been stuck at 6% … now at the end of the fixed term she should be coming down to 2% above base rate…. NR asset management have written to say they will not be honouring that part of her deal and it would now be in her interests to seek a new mortgage with another lender as they are not competitive!!!!!!!!!!!!!!!!! Has anyone else had a letter like this and how do you stand legally… this just seems so wrong!!

By: andy baylis

andy baylis — Sun, 14 Nov 2010 21:39:35 +0000

my mortgage was taken out with nortern rock plc and now been changed to norhern rck assetts i have never never sighned up to be apart of this new company and hope to be compensated for this as i am loosing out on a cheaper rate and n tought of mine

By: Wayne

Wayne — Mon, 06 Apr 2009 12:52:29 +0000

Wow, fast reply, thanks :-)

Our broker is still “Thrashing out” a deal so I can’t answer that I’m afraid. I’ll let you know what we’re offered (when and if we get it).

Thanks

Wayne

By: The Landlord

The Landlord — Mon, 06 Apr 2009 11:29:23 +0000

Hey Wayne,
Now that NR are nationalised (owned by the Government) they’re pretty safe.
Out of curiosity, are you getting a good rate from NR?

Kind regards

By: Wayne

Wayne — Mon, 06 Apr 2009 11:16:02 +0000

Hi Folks

Coming in a little late here (1 year since the last post!).

I’m going for a house move and remortgage if I’m lucky enough. But my broker says he can only get us a (re)mortgage with Northern Rock GULP!.

Is everything safe with them now?.

Thanks

Wayne

By: The Landlord

The Landlord — Fri, 22 Feb 2008 09:34:12 +0000

Hey David,
I’m also in a good position right now, because I have a fixed rate deal, but I will definitely need to consider remortgaging if their standard variable rate is in fact, higher than the market average, as you suggested.

If what you say is true, then you’re right, they may lose a lot of borrowers- which doesn’t make much sense. At this point, their mortgage sector is their most secure and profitable department. One possibility is that they may have A LOT of people tied into variable rate deals, and they may recoupe a large portion of their losses if they increase rates, even after losing a few of the borrowers that aren’t tied in.

Regards.

By: David Jones

David Jones — Fri, 22 Feb 2008 09:01:43 +0000

The latest is that NR want to run down their business and charge higher than average on the variable rate. I’m fixed into a good deal at the moment but worried about what will happen at the end of the cheap deal. If this is their new business plan it seems worrying to do this. Surely the good customers will easily remortgage. However with tighter conditions and dropping valuation prices and ratios those struggling the most will find this difficult. – Leaving Northern Rock with a lower quality mortgage book of borrowers more likely to default because the rates are higher than everyone else’s.
- Am I missing something?

By: The Landlord

The Landlord — Tue, 18 Sep 2007 16:12:53 +0000

Hey Fiona,

I’m glad you found my website useful. Many thanks! How did the renovation go?

As i’ve said, I think we’ll be fine, too. Although, I’ll still be crossing my fingers…a little :)

Earlier, I mentioned in a forum thread that when i was watching the news and listening to the “savers” in the queues, it was kind of like watching Pop Idol. You know at the stage where people queue up outside the studio and discuss their emotions. It was quite funny.

No one watches Pop idol for the main auditions, it’s the initial phase where the judges filter out all the useless acts that captures all the entertainment. Same sort of thing applied with the whole NR saga- I just wanted to hear/watch more people express their concerns whilst standing in the queues for hours.

People were queuing from early hours of the morning, it was quite surreal :)

By: Fiona louisa

Fiona louisa — Tue, 18 Sep 2007 16:01:09 +0000

I think we are pretty much safe ( ive got a mortgage with northern rock too )because by law , like it says , if they do go bust the only thing will change is that of the address we pay our money to each month , which isnt much !
Nothing else can happen.

But yet again its just the media grabbing at a story and running with it …. do you really think it will be even on the news in 2 weeks !?

It makes me laugh really , itv news where interviewing ppl that where queing outside of NR to withdraw there savings , and they where all saying basically the same thing . The whole ‘ I dont want to loose all my savings blah blah ‘

lol its not a christmas savings catalogue . Has any savings bank stolen thousands of peoples money . EVER .

I doubt it .

anyways , rant over .

fee

btw … really like the website . I got lots of tips when buying my first renovation so THANKSS