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  • FIRST POST
    • strawberries1
    • By strawberries1 20th Mar 17, 10:57 PM
    • 599Posts
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    strawberries1
    Nationwide or HSBC? Which Lenders Give Good Rates to Existing Borrowers.
    • #1
    • 20th Mar 17, 10:57 PM
    Nationwide or HSBC? Which Lenders Give Good Rates to Existing Borrowers. 20th Mar 17 at 10:57 PM
    I'm comparing two almost equal mortgages but wondering what lies at the end of the term.

    Which of these two treat their existing borrowers better? HSBC or Nationwide?

    There's a .20% difference but the fee and broker service almost balance it out.

    Rates available to existing borrowers and the lender's reputation will tilt the balance for me.
Page 1
    • glosoli
    • By glosoli 20th Mar 17, 11:41 PM
    • 574 Posts
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    glosoli
    • #2
    • 20th Mar 17, 11:41 PM
    • #2
    • 20th Mar 17, 11:41 PM
    I don't know if I would base any decision on that, just because its either could be better now doesn't mean they will be in the future. Products, their availability to applicants and interest rates change on a very regular basis.

    However if its a deal breaker for you have you looked at their websites yourself?
    • getmore4less
    • By getmore4less 21st Mar 17, 6:55 AM
    • 29,452 Posts
    • 17,605 Thanks
    getmore4less
    • #3
    • 21st Mar 17, 6:55 AM
    • #3
    • 21st Mar 17, 6:55 AM
    the market changes all the time as lenders adjust the rate they want to get new business and retain existing ones.

    LTV boundaries may be more important depending where you are starting from.

    If using a broker they should be answering these questions.

    You really should keep all your questions together on a single thread.


    There's a .20% difference but the fee and broker service almost balance it out.


    how have you done that calculation?
    • strawberries1
    • By strawberries1 21st Mar 17, 9:50 AM
    • 599 Posts
    • 134 Thanks
    strawberries1
    • #4
    • 21st Mar 17, 9:50 AM
    • #4
    • 21st Mar 17, 9:50 AM
    the market changes all the time as lenders adjust the rate they want to get new business and retain existing ones.

    LTV boundaries may be more important depending where you are starting from.

    If using a broker they should be answering these questions.

    You really should keep all your questions together on a single thread.


    There's a .20% difference but the fee and broker service almost balance it out.


    how have you done that calculation?
    Originally posted by getmore4less
    2.14% - 1.94% =.20% interest rate difference. I used the mse mortgage calc which I note you think it comes up incorrect sometimes. Please recommend another if you may.
    With fees the difference is £1k.

    So infact, that £1k is for going with the broker instead of direct and HSBC giving way less than the amount their affordability calc says. Though I have no dependants or loans.
    • lee111s
    • By lee111s 21st Mar 17, 10:40 AM
    • 2,770 Posts
    • 1,906 Thanks
    lee111s
    • #5
    • 21st Mar 17, 10:40 AM
    • #5
    • 21st Mar 17, 10:40 AM
    Nationwide often pride themselves saying they offer their best rates to existing customers.
    • nakiwala123
    • By nakiwala123 21st Mar 17, 1:32 PM
    • 164 Posts
    • 109 Thanks
    nakiwala123
    • #6
    • 21st Mar 17, 1:32 PM
    • #6
    • 21st Mar 17, 1:32 PM
    I have a Nationwide mortgage and recently used their switch and fix service online. It was done very quickly, just through a few pages and that was that. 1st payment starts 1st April. As long as you keep the amount borrowed and term unchanged then it should not be a problem. They don't complete credit checks or affordability checks on the switch and fix. They use their own house price index to value your property so no valuation survey required.

    However, the online version is unadvised so you would have to be sure of the product you are getting.

    We took the 1.64% 2 yr fix on a 70% LTV. Nationwide will allow your new switch and fix to start up to 3 months before the current deal ends; for us this has saved us over £450 in interest over the next 3 months.

    And they are giving a £250 bonus for staying with them.

    Basically what I'm saying, we haven't had a problem with the process so far.
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