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Is it worth swapping mortgage lenders?
Kantankrus_Mare
Posts: 6,142 Forumite
I am currently with Nationwide for my £31,500 endowment mortgage and am paying 5.85% . (Paying appros £151 a month with 7 years left to go.
While putting some money into my Natwest ISA, (I know its not the best rate but is next door to where I work so is convenient), the lady was making queries about whether Id be interested in changing my mortgage to them as they have an offer coming up saying that if they can't better the deal you are on they will pay £1,000.
My query is......is this worth my while looking into?
Will I have to pay Nationwide a get out fee if I DID wish to change?
Is there likely to be an arrangement fee?
Ive never changed mortgage lenders so am a little wary of all the downsides .
Any info would be appreciated.
While putting some money into my Natwest ISA, (I know its not the best rate but is next door to where I work so is convenient), the lady was making queries about whether Id be interested in changing my mortgage to them as they have an offer coming up saying that if they can't better the deal you are on they will pay £1,000.
My query is......is this worth my while looking into?
Will I have to pay Nationwide a get out fee if I DID wish to change?
Is there likely to be an arrangement fee?
Ive never changed mortgage lenders so am a little wary of all the downsides .
Any info would be appreciated.
Make £10 a Day Feb .....£75.... March... £65......April...£90.....May £20.....June £35.......July £60
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Comments
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I'd love to get hold of that £1000 but I'm sure there will be so much conditions on it that it wont be worth the hassle!!!Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!
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Well Im not holding my breath for the £1,000 but just wondering if they DID come up with a better offer would it be too much hassle to change?Make £10 a Day Feb .....£75.... March... £65......April...£90.....May £20.....June £35.......July £600
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i am thinking of changing leanders. i have 115000k standard variable with northern rock for the last 4 yrs i have been looking at discounted and fixed rates for 3-5yrs.
i cant decide which to choose we are trying to reduce monthly payments.
Any advice?0
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