Hi Just something I was wondering about.
In October we come off our fixed term with NR and I was wondering what will happen then as obviously one of the creditors on the IVA is NR. Will we be able to stay with them or hae to find a new mortgage?
You'll be able to stay with them but probably not be able to refix a deal.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Yes, you'll have to tell your ip about the drop in payments.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Keep your IP informed and they will let you know how or if this affects your IVA payments. I came off fixed deal and was able to increase my IVA payments due to more disposable income. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Remember when you take out a mortgage on a special rate you still have a mortgage with the same company after the special deal ends,so as has been said,you will go onto one of their variable rates(I say one of as I noticed several banks now have a few variable rates,not just the usual standard variable rate).
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Hi,
Just so you are aware the Northern Rock variable rate is 4.79%, unfortunately they will not offer you or anyone a new rate.
They do not do this for existing customers anymore, they really want rid of you, this is not to do with your IVA, it applies to all their customers
Hope that helps
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre
IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?
I think that might be NRAM as opposed to Northern Rock? Not 100% though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I think that might be NRAM as opposed to Northern Rock proper? Not 100% though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
My mortgage is also with NR (also one of my creditors), soon to be passed to Virgin (another of my creditors)so I have a relationship with both.
In reality any "bad loan" is now held by NRAM (Bradford & Bingley) so hopefully any customers already holding "paid to date" NR Mortgages and coming off fixed rate when Virgin take the reigns next year will get preferential treatment from a Virgin mortgage (we hope). After all Virgin have made it well known that they intend to be a major challenger in the mortgage market.
Time will tell.
I came into this world with nothing and still have most of it left!
