Changes to selected Variable Mortgage Interest Rates
Important changes to selected variable rate mortgages
From Tuesday 1 November 2016, The Nottingham’s Standard Variable Rate (SVR), Variable Mortgage Rate (VMR), Flexible Variable Rate (FVR) and Buy to Let Variable Mortgage Rate (BTL VMR) will be reduced by 0.25% for existing mortgage customers.
Borrowers affected by the decrease will see a change in their mortgage payments from Tuesday 1 November 2016, and will receive a letter in advance notifying them of their new interest rate and monthly payment.
What does this mean for me?
How will I know if my rate and monthly payments are changing?
Will I need to change my direct debit?
Will I need to change my standing order?
I don’t currently pay my mortgage by direct debit but I would like to. How do I set up a direct debit?
My interest rate is going down so I can afford to pay more every month. Can I arrange to make overpayments?
I have just received my mortgage offer. Will I get another one?
I have received more than one letter about changes to payments on my mortgage. Which is correct?
Why is my mortgage split into sub-accounts?
I don't understand the changes to my monthly mortgage payments
I'm finding it difficult to pay my mortgage
I have fallen behind with my monthly payments and I have an agreed payment arrangement - do I need to do anything?
I had a fixed payment arrangement to pay a different amount to my contractual monthly payment. Why has this been cancelled?
My monthly payment/part of my monthly payment is paid by the Department of Work and Pensions. What should I do?
I would like to review my mortgage. Who can I speak to?
I haven't been able to find the answer to my question. What should I do?
Existing mortgage customers
Can I change how I repay my Interest Only mortgage or Capital and Interest mortgage (also known as Repayment)?
Can I change my monthly mortgage payment date?
Can I change the bank account I pay my mortgage from?
Can I change the term on my mortgage?
Can I have details of interest paid on my mortgage from the last financial year for the Inland Revenue?
Can I make over payments on my mortgage account?
Can I rent out my property?
How can I pay my monthly mortgage amount?
My current mortgage product has come to an end, do you have other products available for existing mortgage customers?
What is the minimum capital payment I can make?
When I make a capital payment when is the interest re-calculated from?
When is the best time to make a capital payment?
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE