Frequently asked questions

Answers to some of the most frequently asked questions. We hope that these FAQ's provide all of the information you will need, but if you have any particular issue please call our Intermediary support unit on 0330 159 9629* Lines are open 9am-5pm.

Will NRAM start lending again?

Following the transfer of our mortgage book into public ownership, our long-term strategy is now to wind down the business and repay the taxpayer by helping our customers to repay their loans or find a better deal elsewhere. We are no longer able to offer new lending and do not anticipate doing so at any point in the future.

As you are closed to new business, what is happening to your existing mortgage customers?

We are committed to maintaining service standards for our existing customers and they are under no obligation to leave NRAM. However, we may not be able to offer our customers a competitive mortgage rate in the future and we may not be able to meet all of their borrowing needs. We therefore want to help our customers find a better deal which could save them money on their mortgage.

How are you helping customers find a better mortgage deal?

To help our customers save money and gain greater flexibility we are actively working with other lenders to find suitable remortgage deals and may pro-actively contact some customers with details of offers that may be suitable.

We will always advise a customer to speak to their original broker if they require advice before moving their mortgage. If the customer no longer has a relationship with their broker then we will refer them to one of our broker partners to ensure that they receive the best mortgage for their needs.

We also now offer a DealFinder tool to help customers search the market to find a better deal. This searches the whole market and compares mortgages from lenders that meet the customers chosen requirements. The data and the system is provided independently by Defaqto, a leading supplier of financial information to a wide range of organisations. Not every deal shown will be available through intermediaries.

Will you still support customers who are in arrears and facing repossession?

NRAM plc shares the view outlined by the Government and the regulator that repossessions should only be used as a last resort. We encourage customers who are experiencing payment difficulties to contact us as soon as possible to discuss their specific circumstances as there may be a range of options open to them that could help them meet their monthly payment obligations. We will always try to work with our customers to find a solution.

Can customers still port their mortgage?

Existing NRAM customers may move home and port their existing mortgage deal. However, we are only able to port the existing deal if the new mortgage is the same value or less. Please note the porting service is only available through a range of key business partners; alternatively existing customers can contact us direct. We no longer pay any procuration fees on porting cases. See the Porting section for more information.