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Northern Rock (NRAM) mortgage - better pay off unsecured loan or mortgage?


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Hi all, looking for some advice. Got mortgage with Northern Rock (NRAM). £135k secured on house and £25k unsecured loan to top up to value of house when it was bought. Bit is paid off by now (well, negative equity any way). Inherited some money from parents. What is better way now: pay off unsecured part of it or actual mortgage on house? If anything happens and i will not be able to pay instalments for both, only for house part, can they reposes house for pay off that unsecured loan or as it is unsecured they cant`t do anything? Just can`t get grip on that. I know I can go to solicitor, but trying to get some advice here first, as really value opinions here.

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Hi Pole.....If it was me in your circumstances I would apply the inheritance to the secured loan, the unsecured loan can become secured if there are any problems with repayments (as they can go for a charging order and eventually an order for sale as a result of any of the court action (on the unsecured loan)

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