Nationwide to cut rates Friday

AMILLIONDOLLARS

jb66 wrote: »

i.m 6.49 :mad:

Jb66 sounds like you're an exisiting customer, you can fix to the 5.78 rate for no fee, give them a call, that's what I'm doing.

AMD

Locoblade

AMD, I think you can only switch to a fix if you're currently on a Nationwide tracker/variable rate, I don't think you can jump down from one fix to a lower fix which is what it sounds like JB66 is on.

Truffin_McLure

I am part way through a remortgage application with Nationwide.

It is my understanding we can walk away from it without penalty if a better rate with another provider becomes available.

In this case, it seems daft not to let you swap if a better Nationwide deal comes up before accepting the offer?

shell1000

from what i understood when i was thinking of remortgaging directly with nationwide, if you choose to change the deal you are taking you can do it as long as you pay the fee upfront rather than adding it to the loan. i think you only end up paying the fee once but as i said you have to pay it upfront.

cherry16

Taken from the Nationwide Website (under Media), looks like it's just been posted there. Full breakdown there (reservation fee has really gone up on the revised 5 year fixed rate! Think I'll stick with the 5.78!)


NATIONWIDE CUTS THE PRICE OF SELECTED FIXED RATE AND TRACKER MORTGAGE DEALS

Nationwide Building Society today announces the following changes to its mortgage product range, which will be effective from Friday 12 September:

• Selected fixed and tracker rates cut by up to 0.30%;
• New two year fixed rate with a £999 fee, available from 5.58%;
• The five year fixed rate and 2 year tracker products with a reservation fee of £1,499 will now have a reservation fee of £1,999.

Nationwide is currently waiving the £599 reservation fee, for a limited period, for existing borrowers who are looking to switch their Nationwide deal.

papi34

http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1264

I'm an existing customer with an offer of +0.74% above base on a three year tracker. looks like they've dropped this by 0.10%

Sparepart

Just some info for those who were asking if they can change the rate they've already reserved with nationwide for the new lower one.

I was due to go to a new fixed rate on 1st Sep and a few days before that a new lower fix came out. I had already signed and sent back the paperwork and had confirmation of the change from them. I hadn't paid any fees as i didn't need to as an existing customer for the rate i wanted (so don't know what would happen if fee's had been paid). I rang them up to ask if i could stop the change, go onto the SVR for one month and get the new rate to start 1st Oct ( it was something like the 28th aug so way too late to be able to change for 1st Sep) They said if they had the request to stop the new rate in writing and signed before the 1st then they could stop it.

Luckily they recieved the request in time and although i've had a bad month this time rate wise from 1st Oct i'll be on a lower rate and this bad month will be worth it. I haven't received any charges for doing this, although have the benefit of not having any fees for the new or old rate so don't know how that would affect things.

I originally asked on here if this would be possible and was advised to call....after all whats the worst they can say!

Hope this helps.

neil40

Nobody will know their true LTV because house prices are dropping like mad.Im at end of fixed deal in Feb next year but reverts to 0.99% above BOE rate for rest of term so may stick with that for a while.