longer able to make our minimum monthly payments

[tracy.h]

Thank you
Im just waiting to see what happens with nr before i go down the iva route,as at the moment as you know its a bit of a no go.
I read this morning that Virgin was taking an interest,hopefully if they are taken over the new owners will be more receptive of ivs's.
Well we can live in hope.

Tracy

[Andrew Graveson]

Hi Tracy,
Will be interesting to see what happens with Northern Rock and this possible takeover. The Virgin brand will not want to attract negative publicity, takes customer service seriously, and the new investors will certainly want to avoid negative comment after the rough ride Northern Rock has had recently.
They've announced some senior management changes which could also change the philosophies in place.
Don't suppose anything will happen quickly but some cause for hope.

Andrew Graveson
Independent Mortgage Broker & MD Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[tracy.h]

Hi Andrew
From what ive read they are looking to get a stake in the company,i soppose it depends how much %they get but it will be a consortium,so i will keep my fingers crossed they get a big enough share to have the say over the negative management thats in place at the moment.
I know its saturday and you probably arent working but a mortgage question.
I f you have a mortgage of £147000 valuation of property £185-£190000 earnings of £37000(joint)
how much would you be able to borrow realisticaly to remortgage.
Im looking at the option that if nr do start excepting iva's then doing F+F but not til around march next year as i will be getting a lump sum of money and hopefully it will help me become debt free.

Tracy

[Andrew Graveson]

Hi Tracy,
I don't like to answer that question without having all the information relevant to the case. It would be unfair for me to give you false hopes or fears as each situation really is unique. There's also the point about just because you can do it it's not necessarily right for you; that tends to come out better in conversation about priorities and options.
Please feel free to give me a call any day next week between 9am and 7pm and I'd be pleased to talk it all through with you. In the spirit of this site I should also point out that I'm sure that mikebdomain and welshboy would be pleased to do the same for you.
On the Northern Rock scenario I don't think it's certain that they will take control. Their offer is not exactly generous and other potential bidders who have been looking at it might now be flushed out to make their offers. Having said that Branson has a heavyweight team on board so who knows.

Andrew Graveson
Independent Mortgage Broker & MD Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[tracy.h]

Hi Andrew
its a shame the british rugby team isn't behind Branson lol.
I will give you a call in the week as i will Mike its always good to get as much advise as possible.
Thanks

Tracy

[Andrew Graveson]

Great - look forward to speaking with you Tracy.

Andrew Graveson
Independent Mortgage Broker & MD Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk