We have all heard it on the news, about all the people who took out a 100% mortgage with Northern Rock - well, as we first warned eariler this year a significant number of people coming of fixed rate deals can't afford their high standard variable rate. To add insult to injury, there are no other 100% mortgages available so transfering to a cheaper lender is not an option.
This left Mr & Mrs Young Couple is a tricky situation to say the least. After much thought and many emails back and fourth with help and advice about mortgage arrears and repossession they decided the best plan of action would be to sell their home quickly for cash and move in to rented accommodation "whilst the dust settled". We found some good alternative cash offers from nationalpropertypurchasers.com - a well respected professional property buying company.
They found a rental property really quick, and turns out they save over £300 per month renting instead of buying!!
Subscribe to:
Post Comments (Atom)
1 comment:
That is awful, I have a mortgage with Northern Rock, but I am fixed until next year. Hopefully by then I won't get stuck on their SVR as I should have 5% equity by then...
Post a Comment