I sympathise with all of you stuck with NR. My understanding is that NR want to get shot of a big chunk of its mortgages. The easiest way of them doing this is by making it too costly for customers to stay with them so they make themselves the total opposite by being uncompetitive.

I too am a customer but thankfully (more by luck then good judgement) I took out a 15 year fixed rate 3 years ago and NR sent me several letters informing me that I could get a better deal elsewhere. I wrote back the first time and the second informing them that they were giving me the best deal out there so why should I change, especially since if I move they'd charge me £6000 redemption. Now I don't bother replying I simply shred them. NR will continue this way and unfortunately the Government will let them because all they want is to repay the billions the Tax-payer pumped into NR keeping it afloat.

My only suggestion is follow the advice of the more authoritive contributers to this discussion and move motrgages because until NR have paid back the money they owe you will get no help from them.

Best regards and good look for the future

Richard