Nationwide rate cuts tomorrow + no fees

marco_79

Hi Folks,

Just off the phone to nationwide. I was going to switch to there 6.18% 5yr fix.

Very pleasent girl informed me that Nationwide are reducing all fixed rates and trackers by an average of 0.2% from tomorrow and removing all £599 fees altogether.

5yr fixed from tomorrow therefore is 5.98% and no fee.

Finally something positive, well done Nationwide.

Marco

beecher

The Metro says that the Clydesdale is ditching fees too so that's good news. Hope Halifax follows suit before my fixed rate comes to an end in December!

Angel555

What this - good news!!!!

lisyloo

{QUOTE]What this - good news!!!![/QUOTE]

For people that qualify - yes.
For people with high LTVs or negative equity then no.

BaileyB

Excellent news was just about to sort something out aswell.

Chris2685

Typical, I have just applied for a mortgage with them based on the same deal as OP mentioned, 6.18% 5yr fix with £599 fee... I am not sure if my IFA has actually sent it off yet though, so I might be able to change it.

Thanks for the info

beecher

Oh dear, I see Halifax have put their fees up for existing customers - £1500 for the one I'd been keeping my eye on

leeloo1

I just came on here to let everyone know the same thing, but I've been beaten to it! Hurray! Good news finally and means that the new rate will only be 1% higher than the current rate I fixed at 2 years ago.

ginvzt

Good - we are just looking to put an offer on the house, any rates cuts are good news!!!!

luckyfool

Not sure about the no fees part. I have the Intermediary rate bulletin and it shows cuts across the board for Remortgage Fixed Rates only, but fee structure remaining the same. i.e. £599 arrangement fees on the lower rate options, no fee on a higher rate.

Of course it could be that Nationwide are restructuring to make the Branch only deals more competitive than broker ones . . . will have to wait and see.

macman

Just had a look at the Nationwide site for this. Unfortunately it is only the fixed rate products that they have cut. The trackers stay the same. But they currently have a 3 year tracker (which is what I'm looking for) at 5.74%, £599 fee, which is a lot better than what my existing mortgage provider is offering (Britannia, 6.34% and £499 fee). Has anyone seen anything better than this?