Hi Paul, Thank you so much for going to so much trouble. We are now trying to work out where the fees etc will come from. BR is our only option really the biggest problem for me is that I am a teacher in a local school and to have a notice in my local paper would really make my position difficult. I...

Paul,

Many thanks you are a star! Apparently your mortgage company has to agree to let someone buy the beneficial interest... is there any chance NR would disagree and what would happen if they did?

Hi Paul, Many thanks for your reply, we are in Bury Greater Manchester. Do you know how much the fees generally amount to when someone is buying our interest in the house. I realise it is a one off payment of £1 but people have quoted prices from £500 - £1000. With this and the fees how on earth can...

Hi Paul, I am actually a full-time teacher with a salary of £36K not unemployed at all and I need the car to take my baby to childcare and to get to work particularly when my husband is working away during the week. Would be impossible to work without one.... Does this mean I can change the figures ...

Hi Paul, Also to clarify I have just been on NRs website and to change to a 5 year fixed rate would up our payments by £400 and the rate is higher than their standard variable rate. Is it better (if a little risky) to just revert to their variable rate after our 3 year fixed is up... will we have to...

Thank you all for your replies... Reviva, We have a 95% mortgage with nr but also a secured loan that takes us to being in negative equity by 10% with a different company. Even with the most optimistic valuation there would be no financial gain from anyone selling our house, we have been assured fro...

Hi Andy, Thanks for your quick reply! The tax code thing maybe a problem as I work in a very small company and have only been there since September. I am concerned about the repercussions although bankruptcy isn't mentioned anywhere in my contract. The NR variable rate maybe through the roof though ...

We are seriously considering bankruptcy after trying to pursue IVA routes to no avail, we have a few questions we were wondering if anyone knew tha answers to. 1 - What is the NT tax code that people are put on during bakruptcy? Is this standard practice and surely it results in your employer findin...

We haven't defaulted on anything yet and are in the process of entering a DMP to ensure we don't until an IVA can be approved. By securing the together unsecured and our existing secured debt it would leave us with no equity in the property. We are concerned that when our fixed rate is up with the N...

We have a together mortgage with NR. We are currently trying to apply for an IVA through Grant Thornton and can offer 65p in the pound as a return. NR is by far our biggest creditor. They have offered to secure the unsercured debt and take on another secured debt we have against the house and then w...

We have 80K of unsecured debt and are able to offer 50p in the pound repayment in an IVA - Our main creditor (37%) is Northern Rock - Is there any way this would be approved? Some IPs are turning it down and won't put it forward others are telling us they would be surprised if it did get turned down...