Northern Rock Existing Customer

We have a Northern Rock mortgage. The two year fixed rate ends this December and Northern Rock have only offered their Standard Variable Rate. We have roughly 5% equity in our house, what do you suggest we do?

Thank you for your question. Since Northern Rock were nationalised we are aware that many customers are finding it difficult to get a replacement deal. The first step is to call Northern Rock and check whether there are any new products you are now eligible for. If they can’t help you might want to consider moving your mortgage to a lender with a range of products, which may be cheaper. You should bear in mind that many factors need to be considered before you decide to move your mortgage, and on the basis that your fixed rate ends in December, I would suggest that you speak to a whole of market mortgage broker for individual advice; you might like to give us a call.

Thanks for your question

Questions are answered by Lee Dawkins and Chris Baigent of Smaart Associates. The answers are based on the information provided and do not constitute advice or a recommendation under the Financial Services & Markets Act 2000.
The answer reflects the personal view of the author and do not necessarily represent the views, positions, strategies or opinions of Smaart Associates Limited.
The answers, comments and opinions are made in good faith, and neither Smaart Associates or the author will accept liability for them.
Smaart Associates strongly recommend you seek professional mortgage advice.