www.iva.co.uk

Hi all,
Has anyone that has a mortgage with NR had a letter yet saying it has gone down - I thought that all banks this time were passing the cut on.....I have had nothing as yet.
I know that a cut doesn't really benefit us as we'll probably have to give it over, but it would have been nice.
k.

I wouldn't worry too much as yet, I haven't had the cut passed on yet and I am with a mutual not a bank. Hopefully it won't be TOO much longer......

Regards.

How quickly do you think the banks will swing into action when the rates eventually go back up?!?!

Hi there, I have had a number of clients obtain their new figure in the post or have indeed rung up and been given the new payment details. Give it a go, ring them and ask, you have nothing to lose and everything to gain as they are passing on the full cut. If you go onto their website and input your mortgage details you can get an idea of the new figure from there.

Thanks for that.
Well I went on to the NR website and registered, then put my Mortgage AC no in, and it came back with;
'due to the status of your mortgage Account we are unable to help online, please call us'!!!!
What the ***** does that mean then. I guess it's because I have a together loan that is part of the IVA.
I think I'll just waiut and see if they send me a letter!
k.

Just give them a ring - they will have the figures on their screen

Just contacted my IP provider and have to send in a copy of the letter from the Halifax with regards to my drop in mortgage now, i so hope that if it goes up again i can reduce my payments as quickly, hey ho in one out of the other.

I'm with C&G and I've ahd my letter £170 better off!! Although my CSA is £300 pound short so it will put me back were I need to be!!My I&E form will look right for a change.

N Rock have reduced their standard variable rate to around 5.6% from 7.5% - good news for those currently on a fixed rate who are due to go on the variable rate in the near future. Apparently, however, they do their best to persuade customers to go alsewhere for cheaper rates as they are now the bank that likes to say "NO"!

nice one kabby at least you will have some benefit of it, does anyone know if you pay the whole amount over or just a % as mine is just over £60.

Has anything gone up for you on I&E form because every month I do struggle so it would be good to have a long look at all I&E and ensure you are not missing cost for example my IP firm rang yesterday and discussed Payment protection for my IVA I have taken it out its £14 per month and is underwritten by Stirling. But I have piece of mind. Also in you IVA do you have a rain day plan. [:I]

Nice to see Melanie N's face on the forum as many posters know only the voice that has been so helpful to them. Beauty as well as brains, eh?

Hi Kabby no i don't think i do have a rainy day plan could you enlighten please.

Thank you for your email which has been forwarded to our department.

I can advise you at this stage that there is no need to introduce these funds.

Hope this clarifies matters.


wahooooooooo i recieved this email after having emailed my IP customer care folks regarding the drop in mortgage, does this mean that i don't have to increase my payment because my mortgage has been reduced slightly by the interest decrease?

Had my letter from Bank of Scotland today . Despite all the news stories and information saying they would pass the full cut on mine has only actually been reduced by 1/4 %. Whats that all about ?.

My friend who is with Northern Rock has also only had a 1/4 % cut. When she rang them from work today they told her that whilst she was in arrears with her mortgage she would not receive the full cut. Whats that all about ?