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 Mortgage deal ending in 2010
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In 2 Deep
Junior Member



United Kingdom
161 Posts

Posted - 14 October 2009 :  17:28:01  Show Profile  Reply with Quote
Hi All,

Looking at going BR, and my mortgage deal is up in 2010. House is in negative equity so will hopefully buy BI, and continue with mortgage payments.

I would like to know when my current deal expires with Northern Rock in 2010, will they then put me on their standard variable rate even though I will be BR?

Thanks.

Treat EVERY Penny as a prisoner.

Melanie.n
forum expert



United Kingdom
1282 Posts

Posted - 14 October 2009 :  18:09:46  Show Profile  Reply with Quote
Your bankruptcy will deal with your unsecured debts - provided you maintain your monthly payments to your mortgage you will have no problem switching to the SVR - you will even be able to negotiate a further fixed rate - though until things change ecconomy wise i would not reccommend anyone sorting out a fixed rate at the moment as the rates they are quoting are hiseous compared to the base rate! I am currently in the same boat with my mortgage fixed rate ending in December and am going to just revert to the SVR - a fixed rate is something I will not be considering for quite a while as the SVR is far more competitive.
To round up....your bankruptcy will not affect your mortgage in any way, provided you have maintained all payments - all the lender will look at is your repayment history

Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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In 2 Deep
Junior Member



United Kingdom
161 Posts

Posted - 14 October 2009 :  19:42:47  Show Profile  Reply with Quote
Thanks Melanie for your assistance.

Treat EVERY Penny as a prisoner.
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