Share your Northern Rock mortgage experiences

August 4, 2009 2:21 pm by Lucy Warwick-Ching

Northern Rock’s has announced a £724m pre-tax loss for the first six months of 2009 and warned that rising unemployment could pile further pressure on its mortgage book.

With the economy suffering, and unemployment rising, more and more borrowers are struggling to meet their monthly mortgage repayments.

The Newcastle-based lender was notorious for its Together loans, in which it lent up to 125 per cent of home values and as the recession bites and house prices fall, and it is these loans that are partly responsible for its soaring rates of mortgage arrears.

Did you take out a Northern Rock Together mortgage? If so, did you take out the full 125 per cent loan and what is your current situation? Are you in negative equity? Do you think you were given enough information about these loans when you signed up?

Share your views by typing your comments here or into the link below, or by visiting us at Twitter.

Posted in House prices, Mortgages |
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Lucy Warwick-Ching is the FT’s new Money Online Editor and has been a UK Companies reporter covering tobacco, pubs and leisure companies as well as the deputy editor on House and Home.

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Josephine Cumbo has written about all aspects of personal finance but currently specialises in insurance. She also covered company news for FT.com. Prior to working at the FT she was a news reporter for the ABC.

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Jonathan Eley is editor of Investors Chronicle, and has been with the title for ten years. Before that he worked for newswires and trade journals in London, New York and Hong Kong.

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