Is it too late to change?

Sparepart

Hello,

My current fixed rate ends in 3 days with nationwide and i have secured an offer of a new fixed rate with them for 5 years to start 1st September. There was no fee involved to set this up but i have signed and sent back the forms and received confirmation the switch will take place.
I think its too late to do anything about changing this now as i've already signed the forms agreeing to the new rate but want to double check what other people think.
Now the rates have dropped again with nationwide could i get them to cancel the change and go onto the SVR for 1 month and take advantage of the new lower rate? Or would i be charged the early repayment fees if i wanted to do this now?

Any suggestions would be gratefully received. Thanks.

happybroker

ring them, what's the worst they can say?

good luck

koexelek

With a lot of lenders you would not have a problem, but I fear with Nationwide you will .

I have had occassions where they have insisted on the borrower paying BOTH fees if they want to change products half way through the application ( even if they have not started the original one).

i have always felt this is very unfair, as when you have not already started a scheme and not paid a fee, most lenders will just let you swap.

Hope for your sake I am wrong though.

Sparepart

Thanks for the replies. I gave them a call as suggested and originally the lady said it was too late as i'd have to write in and as monday is the 1st and saturday is not a working day there was not enough time. I asked about faxing so she checked with a manager who advised me to call back tomorrow and speak to a different team who would be able to confirm whether i can fax the request or not. I've also managed to get a letter in the post before last collection this evening so fingers crossed they should get that tomorrow anyway.

Now i need to start deciding whether to go onto thier tracker rate so that i can switch onto a lower fixed rate if they drop rates again or go straight for the lower fixed rate .