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Colleague 1

Purchase date Dec 07, 170k, 10% deposit

Rang Northern Rock today to enquire if he could get a fixed rate for when his expires in February (on a 1 year fix). The answer was no and that it was very unlikely until the BOE loan was paid back! He didn't even push for reasons itt was offered straight up, I guess as share holders we have the right to know!

Colleague 2

Purchase date ages ago, worth 120k ish, 25% + deposit

Was offered an extension of his fix at 4.89%...........although I am unclear if this is a transfer of mortgage deal as he is buying another house.

Out of the 2 the first is more reliable as I was present.

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Purchase date ages ago, worth 120k ish, 25% + deposit

Was offered an extension of his fix at 4.89%...........although I am unclear if this is a transfer of mortgage deal as he is buying another house.

Out of the 2 the first is more reliable as I was present.

Colleague 2 must be fibbing or not disclosing something. NR have a mandate to pay back the loan - they won't be extending or rolling any facilities unless they really have to. And definitely not at rates below the prevailing swap rates (which are currently at around 5.74% for a 1 year vanilla fix)

I wonder if it had a huge upfront fee added to the loan. I've seen 5k quoted and once that is amortised over the 2 years the effective rates are much higher.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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