| T O P I C R E V I E W |
| potless |
Posted - 06 February 2009 : 16:56:19
Can I ask has anyone gone BR whilst having a northern rock "together" mortgage?
I have one and was hoping to include the unsecured amount of mortgage in my BR. This would still leave me in negative equity and hopefully enable me to keep my home. Ive read somewhere that Northern rock can place a charge over my property for the unsecured amount, is this true?
I owe £30k for the unsecured part and ideally would like to include this in the BR rather than on my property for obvious reasons!
I would appreciate anyones answers or experiences with northern rock. Thank you |
| 5 L A T E S T R E P L I E S (Newest First) |
| potless |
Posted - 07 February 2009 : 08:21:06
Thanks everyone for your advice. Im booked in to go BR on 24th March but I might try and pull it forward in case Northern rock decide to try and put the charge on.Im in three months arrears on mortgage and unsecured part due to being on dole. I start a full time job on 2nd March. |
| digman |
Posted - 07 February 2009 : 07:33:38
Hi Potless ,
We have a NR Together mortgage and went BR Oct last year . £30K unsecured got written off and we just pay the secured part now . Pre BR when i was phoning them to make my monthly payment i specifically asked them to apportion the money to the Secured element only and nothing was to go to the unsecured element , to which they did with no probs . I have found them very helpful and professional in all dealings both pre BR and post BR .
Hope this helps ,
Andy |
| Jane.l |
Posted - 06 February 2009 : 18:15:32
yes, we had a Together mortgage, be warned that NR are very fast with securing the debt and putting a charge on the house, be careful when you deal with them, if they get a whiff that you are struggling, they may go for the charging order. They did with us, we went bankrupt but they got the final charging order granted AFTER the bankruptcy date. I did manage to get them to overturn this. We were not keeping the house anyway but they should not have been granted it |
| Melanie.n |
Posted - 06 February 2009 : 17:30:41
Hi there
the unsecured element of a Northern Rock mortgage is no different to any other unsecured loan or credit card and as such has to be included in the bankruptcy. The mortgage payment obviously must be continued to be paid but the unsecured element would not be paid. If you are unsure on the amounts have a look on the back of your last statement or letter where the payment is always broken down.
Hope this helps
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
01446 711780
melanienicholas@jonesgiles.co.uk |
| gally |
Posted - 06 February 2009 : 17:15:01
i have still got my mortgage with northern rock and most probably will for the forseable future !!!!!! however when i went br i included £29k worth of unsecured loan if that info helps |
