Northern Rock Mortgage Review

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1.4 stars
Average rating for this product is: 1.4 out of 5

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carternm31's Review of Northern Rock Mortgage

28th Mar 2007

Overall Rating

2.5 stars
  • Value for money
    3.5 stars
  • Repayment Method
    Repayment
  • Product
    Fixed rate
Good Points

Only lender to provide us with a 100% Mortgage.
Have 'payment holidays'.


Bad Points

High interest and 'redemption' figures.


General Comments

I must say first off, that we didn't actually have many problem within the 2 years we were with NR. We paid our amount every month as normal, and job done. They reared their ugly heads when we re-mortgaged elsewhere (although I also can't say much for the idiots we re-mortgaged with)!

Due to the re-mortgaging taking so long, we started paying the high interest payments from February 22nd (which we fully expected). This wasn't the problem. The problem was that until we finally swapped mortgages, Northern Rock decided to charge us a whopping £25 per day until the change happened. And to make it worse, they started charging us that from the last statement date, which was back in October! So when we originally thought we were getting a nice little £7k to pay off debts and finish the house off, the money actually only came to £4300 thanks to their fee's!

Wasn't very happy.

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Members' Comments oncarternm31's Review

  • dave regular on 26th Apr 2007

    Check all your Northern Rock paperwork for your original mortgage, as you may be being overcharged!! If this has happened, you can claim it back either directly from them, or by using the financial ombudsman. You can also take the mater further by going to the FSA (each case costs the bank £600).