I fear I already know the answer but I would like to ask anyway in case I am missing something...
My wife and I have a mortgage with Northern Rock or NRAM as they are now known. We got this literally just before the whole NR thing was kicking off. We have been with them for just over 5 years paying regularly but we now find ourselves on probable negative equity.
The 'problem' I have is that we are stuck paying their Standard Variable Rate mortgage of 4.79% which I believe is quite high at the moment.
Obviously I would like to try and get a better deal somehow or even move house in the very near future but my gut feel is that we are stuck and can't do either. Am I right or is there an option I havent thought of?
Thanks,
Dean
My wife and I have a mortgage with Northern Rock or NRAM as they are now known. We got this literally just before the whole NR thing was kicking off. We have been with them for just over 5 years paying regularly but we now find ourselves on probable negative equity.
The 'problem' I have is that we are stuck paying their Standard Variable Rate mortgage of 4.79% which I believe is quite high at the moment.
Obviously I would like to try and get a better deal somehow or even move house in the very near future but my gut feel is that we are stuck and can't do either. Am I right or is there an option I havent thought of?
Thanks,
Dean