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You all own my house...

WSSWSS
edited February 2008 in Not Sports Related
...effectively. Congratulations!

Seriously though, does anyone (stanmore) know how this nationalisation thing will affect my mortgage? Even though the website says all terms of my mortgage remain the same - i'm a little bit nervous.

I still have a year or so on my fixed rate but after that am i likely to get stung?
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Comments

  • [cite]Posted By: WSS[/cite]...effectively. Congratulations!

    I still have a year or so on my fixed rate but after that am i likely to get stung?

    Yes...Bad luck, old bean.
  • Excellent.
  • [cite]Posted By: WSS[/cite]...effectively. Congratulations!

    Seriously though, does anyone (stanmore) know how this nationalisation thing will affect my mortgage? Even though the website says all terms of my mortgage remain the same - i'm a little bit nervous.

    I still have a year or so on my fixed rate but after that am i likely to get stung?

    Speak to a mortgage advisor, but my guess is nothing. At worst your fixed rate mortgage will continue at the same rate and then in a year it will be fixed to whatever the rate is. I don't think you'll be stung.

    By then NRK might be taken over/privatised.
  • more important is why is my tax being spent on.............



    Sponsoring Newcastle United. Sort it out Brown!
  • Nothing can happen WSS. Your mortgage will run as is, as per the terms set when you took it out.

    At the end of the fixed rate, IMO, you should be looking to remortgage anyway, to get another lower rate fixed.
  • most certainly won't get stung.

    Just ensure you look into a new deal elsewhere ahead of when your fix ends. With rates likely to fall in the next 12 months, you appear to have timed your fix pretty well.
  • I need a new bathroom suite, as I own yours, I'll send the boys round to collect....:-)
  • [cite]Posted By: AFKA Bartram[/cite]most certainly won't get stung.

    Just ensure you look into a new deal elsewhere ahead of when your fix ends. With rates likely to fall in the next 12 months, you appear to have timed your fix pretty well.


    Correct me if i'm wrong but if he's already on a fixed rate and still has a year to run, then the 2 recent drops in the interest rate won't have affected him, and neither will any drops in the next 12 months, so hasn't he timed his fixed rate badly? He should have gone on a variable rate surely?
  • i've just been told by my housemate that we are on a tracker mortgage - at least i pay attention to the important things in life Chris!!
  • I'm still waiting for my mortgage provider to pass on the latest drop.

    Funny as they increased my payment straight away.....
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  • Just because we pay taxes does not mean WE own Northern Rock. When we give our money to profiteering banks for services to make their billions of profits (and some cock it up like the northern rock) we dont say WE own the bank so because we give money to the Government for even better services eg defence, health service why do we think we own them!? One is a charge for for using a bank (rip off) and the other is a charge based on ability to pay for living in this country (excellent value for money). So if the elected Government with THEIR money decide to buy a bank then good on them. I would rather the profuits go towards the cost of national services than the bank's shareholders

    by the way i think play offs at best!
  • you should go up Geordie land kick your bank in its bollox. Then we wouldnt have had to bail em out.

    Please make sure you keep our house in tip top shape !
  • At one of the Arsenal v Newcastle matches recently the home fans were singing: "We pay your sponsorship..."
  • [cite]Posted By: WSS[/cite]...effectively. Congratulations!

    Seriously though, does anyone (stanmore) know how this nationalisation thing will affect my mortgage? Even though the website says all terms of my mortgage remain the same - i'm a little bit nervous.

    I still have a year or so on my fixed rate but after that am i likely to get stung?


    I'm with the Northern Wreck too.

    My fixed deal finished part way through last year just in time to get hammered by the then succession of bank rate increases.

    I couldn't get out of it for 12 months without paying a £3,000 penalty.

    And if I paid up and moved my mortgage elsewhere, then I'd have to pay up another set of arrangement fees, valuation fees, solicitors fees and other trumped up costs.

    And when the bank rate did finally drop, Northern Wreck only passed on half the reduction.

    Greedy profiteering b*stards. It turned out to be the worst mortgage deal I'd ever had in 25 years of owning my own house.

    They can go to hell.
  • we've just been informed our mortgage is going down by £10 a month. Drinks are on me! whoopedoo! not.

    I do have a question though, our mortgage rate was fixed for 2 years and agreed in December 06. Due to delays with the purchase we didn't actually start the mortgage till March 07, however, do we remortgage when the rate runs out in December 08 or March 09? or does it depend on what our blurb says?
  • Suzi - bit puzzled as to how your mortgage can go down, when you say you're on a fixed rate!
  • What's a mortgage? ;-)
  • suz if i remember rightly we bought flats at about the same time, i moved in on the 21st dec 2006, but my fixed rate mortgage aint up for renewal till march next year! Watch out for that one!
  • Sorry to gloat mine is f**k all , naff,zilch,bugger all,nil, zero,naught,not a penny.

    Years back i wentto the Abbey for a mortgage. They did the survey , which said not a morgage able prpoerty. Went back to the Abbey.This Dorris kept me waiting like ur at The Head masters. She then went through how they couldnt lend me the money re their survey.She did this like she was talking to a 10 year old. I sat there and listened and then had the real pleasure in saying " yes i fully understand the report.However its not my problem ,i will find somewhere else. It is yourselves who have the problem as its Abbey who have the mortgage on that property already. Good bye ". Her face was worth the wait. 2 months latter got a letter, they had a rethink and they would llove to lend me the money on that property .ooooooooooooooooooooooo f**kin would you.
  • [cite]Posted By: Medders[/cite]Suzi - bit puzzled as to how your mortgage can go down, when you say you're on a fixed rate!

    because we had to pay a higher lending charge due to being first time buyers and not have loads to put up for deposit, plus we put that and the mortgage fees onto the mortgage as we didn't have the money at the time, so we're paying a higher rate on that, but the fixed rate on the actual mortgage borrowings. does that make sense?
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  • WSSWSS
    edited February 2008
    In a word.

    No.

    Then again its not suprising for me as i just sign things when i'm told to.
  • [cite]Posted By: Chris_from_Sidcup[/cite]
    [cite]Posted By: AFKA Bartram[/cite]

    Correct me if i'm wrong but if he's already on a fixed rate and still has a year to run, then the 2 recent drops in the interest rate won't have affected him, and neither will any drops in the next 12 months, so hasn't he timed his fixed rate badly? He should have gone on a variable rate surely?

    What i meant is that when his current fix comes to an end, rates should of returned to a lower level if he wishes to refix elsewhere.
  • WSS you won some moeny on the CAFCLife lottery, just need to sign the acceptance forms, ok if I bring em up to Blackpool?
  • [cite]Posted By: suzisausage[/cite]
    [cite]Posted By: Medders[/cite]Suzi - bit puzzled as to how your mortgage can go down, when you say you're on a fixed rate!

    because we had to pay a higher lending charge due to being first time buyers and not have loads to put up for deposit, plus we put that and the mortgage fees onto the mortgage as we didn't have the money at the time, so we're paying a higher rate on that, but the fixed rate on the actual mortgage borrowings. does that make sense?

    Yes and no. I'll drop you an email
  • edited February 2008
    Dear Mr WSS

    Please allow me to introdcue myself

    My name is Mr Gerry Mander

    My late uncle, Mr R Noady, was a high ranking official in the national Bank of Tangoland. Without his employers knowledge he managed to move a large amount of money, £15,000,000.00 form various secret slush fund accounts know as the Selhurst accounts to a private offshore account held by a third party.

    My uncle died recently and I would like to recover the funds from the third party account but am unable to do so as my Uncle, for obvious reasons, didn't want to publicise the exisance of these accounts. Because of the dubious nature of the original accounts that my late uncle moved this money from the bank of tangoland have written the money off as they don't want to attract attention from the Finacial Authorities (the FA)

    So, the money is in the account waiting to be claimed.

    If you could assist me by letting me use your bank account to transfer this money back to the UK I'd be happy to pay you a 10% handling fee for your trouble.

    All I require is your bankers name, your account number, your secret pin numbers, your credit car numbers, their secret pin numbers, your secret passwords, a cheque for £10,000.00 as a handling fee, your address, your previous address, your dogs name, the registration number of your car, your mobile phone number, the mobile phone number of at least seven other women, the middle name of the man standing three feet to your right and an ice cold tin of tango and we can proceed.

    I'll bring the paperwork to Bloomfield Road for you to sign.

    Yours in total good faith

    Gerry
  • I still haven't had a letter telling me my variable rate has gone down.
  • We renewed one of ours at the weekend. Got a 5 year fixed rate at 5.6 with no arrangement fee.

    Probably should have gone on a variable one for a couple of years but at least we know where we stand for 5 years.
  • You all own my car too - a very nice BMW. Still got four and a half years of paying Northern Rock before it's mine. But at 5.3% interest rate, no wonder they got into difficulties!
  • Am I the only one who's absolutely incensed the government have bailed that shower out?

    Surely what they were doing was what made them competitive, and with that comes a degree of risk?

    The government don't seem to be rushing to help all those who have lost their pensions through their employers stupidity/collapse so why help that bank out?
  • they are not bailing out the rock mob but supporting the whole banking system which is corrupt and profiteering. the other banks should pay for it by a windfall tax.

    for me the whole bank system crashing would be interesting. would we all turn to murder and pillage or become a better society?
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Roland Out!