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Nationwide to cut rates Friday

I've been told that Nationwide are cutting rates again on Friday but i think only for the 75% LTV people *lucky gits*
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Comments

  • koexelek
    koexelek Posts: 7,847 Forumite
    they should be changing all rates for the better

    Rate bands will be 60%, 75% and 90%
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Just my luck just agreed and signed for a deal at a rate of 5.98. dont have a completion date yet but does anyone know if its possible to change deals with them at this stage?
  • JayZed
    JayZed Posts: 731 Forumite
    I should think you'd have to pay another arrangement fee to get a deal at the new rate. If that's the case you'd have to work out whether that would be worth it based on the size of your loan, the length of your fix, the size of the rate cut and the size of the arrangement fee.
  • koexelek
    koexelek Posts: 7,847 Forumite
    JayZed wrote: »
    I should think you'd have to pay another arrangement fee to get a deal at the new rate. If that's the case you'd have to work out whether that would be worth it based on the size of your loan, the length of your fix, the size of the rate cut and the size of the arrangement fee.

    Correct. Nationwide are sticklers for that.

    A lot of other lenders will just let you change ( assuming you have not already paid the arrangement fee) but Nationwide won't.
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    manikm wrote: »
    I've been told that Nationwide are cutting rates again on Friday but i think only for the 75% LTV people *lucky gits*

    Its a good headline but the LTV part coincides with how much they expect prices to drop. Good marketing.
  • ginvzt
    ginvzt Posts: 4,878 Forumite
    1,000 Posts Combo Breaker
    koexelek wrote: »
    they should be changing all rates for the better

    Rate bands will be 60%, 75% and 90%

    If you look on the website, rate bands are already like that....
    Spring into Spring 2015 - 0.7/12lb
  • lagi
    lagi Posts: 590 Forumite
    Was wondering about this as i hadn't heard anything, been like that for a while. Will see later about midday if anything drastic has changed.
  • I had originally reserved the 5.98% deal for 1st October at the beginning of August, I did not sign the paperwork and was going through it when i noticed a couple of errors a wrong fixed period for one. I went on their website yesterday and noticed that the rate had gone down to 5.78%. I rung them up and informed them of the errors and pointed out the new rate, upshot is that I will be getting the new rate, so are you saying that they will be reducing the 5.78, if so do you think they will reduce my rate again if I ask. I am still waiting for the new paperwork to come in the post.

    AMD
    Debt Free!!!
  • jb66
    jb66 Posts: 1,705 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    gtmacc wrote: »
    Just my luck just agreed and signed for a deal at a rate of 5.98. dont have a completion date yet but does anyone know if its possible to change deals with them at this stage?

    i.m 6.49 :mad:
  • Hi
    I applied over the phone last week to remortgage with Nationwide. We have received the paperwork to sign but haven't sent it off as yet. Will we be able to change to the new rates at all?
    Thanks in advance
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