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young couple

“When I visited your website I was desperate as my finances were in a real mess. You recommended us to a mortgage adviser and through their help and patience secured a mortgage for me through a building society who were sympathetic to my needs.

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“I thought that I would never be able to qualify for a mortgage after my bankruptcy. You are truly miracle workers.”

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“I was referred to RemortgageMe by a relative. It was at a time I needed real help in getting my financial situation in control.

“The whole process was so quick from filling in my details to the adviser calling me. I'm looking to complete on my remortgage next week.”

Peter, Nottingham

Debt (Northern Rock)

There is little that hasn't been written or said about Northern Rock in recent months, and most of it is not good. Despite the various initiatives and Government intervention there doesn't seem to be a lifeline being thrown to those people who have mortgages with Northern Rock who are now facing difficulty.

The Northern Rock problem for the consumer


It would appear that Northern Rock were keen to sell high LTV (loan to value) mortgages up to 125% of the property value. The theory behind this would seem to be that with property values increasing it would not take long for this percentage to reduce in real terms, ie as the property value increases the LTV reduces against that increased value.

BUT, clearly at the time the mortgage was taken out the extra 25% of the loan could not be secured against the property (because the security was not there) so was offered as an unsecured loan.

The best laid plans of mice, men and High Street banks!


Of course, what has actually happened since is that property values have started to fall. Borrowers are now saddled with negative equity (where the property is worth less than mortgage secured on it) as well as a large unsecured loan to pay off. With inflation kicking in on fuel bills, in the supermarkets and on garage forecourts who is helping these people? Certainly not Northern Rock!

Is there help out there?

Yes, but you must act quickly. Burying your head in the sand and ignoring any demands for payment from creditors will only make matters worse. Assuming your first priority is to keep your family home (which you would have difficulty selling if you are in negative equity anyway) we can help!

How can you help?

The critical factor here is the unsecured debt and your affordability to pay. If your total unsecured debt exceeds £15,0000 and 3 or more creditors (so apart from the unsecured loan, any credit card debt or bank overdrafts) we have specialists who can negotiate with these creditors to write off much of this debt. This is called an Individual Voluntary Agreement (IVA) and the creditors will look at what you can afford to pay and negotiate part payment of the unsecured debt whilst allowing you to continue to pay your secured debt (ie your mortgage) and keep your home.



The IVA will usually be calculated over a period of 3-5 years. But, if in that period, property values do increase you can remortgage yourself out of the IVA early. Our specialists will keep in touch with you over this period to notify you if they think this would be to your advantage.

If your unsecured debt is less than £15,000 in total we can still help by means of a Debt Management Plan.

Both of these options are available to tenants as well as homeowners.

What other options are there?


There are other options that are available. If you do actually have equity in the property you may be able to remortgage with a different lender. If this is the case please click here to complete our remortgage enquiry form. Otherwise, please complete our NO OBLIGATION form below and a specialist will call you in strict confidence very soon.

Please tell us about yourself
Title
First name*
Last name*
Date of birth*
Postcode*
House Number*
Telephone*
Mobile*
Email Address*
Is this a single or joint application?*
Joint    Single
Your property and mortgage details
Residential status
Approximate total amount of unsecured loans (inc. credit card balances & overdrafts) (£)*
Number of creditors for unsecured loans
Your circumstances
Please tick any of the following that apply to you.

Have you or the joint applicant had a CCJ in the last 3 years?
Have you or the joint applicant ever had an IVA?
Have you or the joint applicant ever been declared bankrupt?
Any other information


Financial Compensation
IMPORTANT: You may be entitled to £1000s in compensation for previously mis-sold financial products such as PPI, Bank Charges etc (on average, each enquirer has 5.5 potential claims). Don't let the banks and financial institutions keep your money to pay themselves massive bonuses & pensions with! Remove the tick if you do not wish to receive information about this service.
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