Hi,

I'm looking to remortgage as my 2 year fixed rate deal with Northern Rock has come to an end (4.85%) and I have been put on the SVR, my problem is that i bought the property through the Homebuy Scheme (not a part buy part rent scheme as every mortgage advisor i speak to seems to think) its a scheme where the local housing authority bought 25% of the house and I bought the other 75% (I just have to pay them back the 25% at the current market rate whenever I sell the house).

What i need help with is to have some kind of list of mortgage providers that deal with this Homebuy Scheme to save me from getting application rejections going on my record when searching for a new deal. does such a list exist or is it a case of try, try and try until someone accepts!

The property was purchased for 95k my mortgage was 71k and homebuy scheme paid the extra 24k, its worth around 150k today.

Thanks for any advice you can give

Hi...used to be Halifax, Nationwide, Yorkshire BS maybe a few more now, it will depend on what you want to borrow. When you see a broker just explain a little further, they can then do the research.

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Regards

Ian

It might be worth talking to LloydsTSB. They recently agreed a deal with Northern Rock to offer mortgages to those Rock customers whose fixed rate was coming to an end. I don't believe the rate is a special one for Rock customers, its more about making the process of applying easier, given Rock can no longer offer remortgages and will otherwsie be putting people on the SVR.

Worth a try.

Northern Rock are offering new rates for re-mortgage customers as well as the facility to be contacted by Lloyds. In fact for the loan to value you are looking at the rates are pretty competitive.

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Regards

Ian