Colli Real Estate

Northern rock mortgages?

im confused with the recent news from northern rock, if they have no financial difficulties then why or why tell the whole bloody country that you are needing to borrow from the Bank of England! Its making my husband and i panic as we have a mortgage with them. If savers keep withdrawing then surely northern rock are going to be unable to loan us the money for our property? We struggled to find a suitable mortgage for us so if they are to withdraw their offer where will we stand?
i should also state we have a fixed rate mortgage with at least another year and a half left.

You already own your house and have to pay them back the money. As long as you keep paying no problem.

Northern Rock will probably be bought out by a larger bank who can sort their problems out. Don’t forget some of the largest banks in the word are based in the UK so there will be no shortage of intersest.

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