Are Remotgages Negotiable?

kateshady

Hello

I currently have a mortgage with Natwest & the fixed rate of 4.89% (ahh the good old days)! is up at the end of November.

I rang them & they have offered me 6.34% fixed for 5 years.
Does anyone know if this is negotiable?? As Nationwide are doing 5.98%

If not, I obv will have to change lender its just that if I stay with Natwest there is no valuation etc which takes away some of the stress & my LTV is pretty close to the 75% so property could get valued for less that I thought....

Any help, much appreciated!

Thanks
Kate

_Andy_

In short, no they're not.

PeteHi

6.34% is pretty decent, are there any fees with that? If not I'd bite their hand off!

lisyloo

No, it's not negotiable but rates are coming down and you do have a little time in hand so you could wait a little.
In fact I heard that Nationwide rates are coming down today.
In your posistion I'd wait a little and keep my eye om whats going on.

luckyfool

Hopefully Natwest will bring their rates down as well and you can take advantage with them. You are right to be concerned about valuations in the current market, as if Natwest will give you a 75% deal no questions asked, that might be more beneficial than risking a downvaluation with e.g. Nationwide, and getting pushed onto a more expensive 90% product.

On the positive side with most other lenders they would still pick up your valuation costs anyway. And with Nationwide with their recent rate cut, even if you downvalued, their 90% 5yr fixed rate with £599 arrangement fee (which can be added) would still only be 6.38%.



Joe