They won't let me come off my Nationwide Fixed Rate Mortgage!

koexelek

feisty1 wrote: »

What!! For a mortgage that expires in June, and have the early repayment fee & deeds discharge fee..........pls explain yr suggestion JMitchell

Not only that, if rates stay the same as they are now, the OP will go onto the Nationwide SVR of 3% in July.
There will be nothing as good elsewhere as that, without huge arrangement fees.
I'd just be grateful the fixed expires this June, not next

catriona69

koexelek wrote: »

Not only that, if rates stay the same as they are now, the OP will go onto the Nationwide SVR of 3% in July.
There will be nothing as good elsewhere as that, without huge arrangement fees.
I'd just be grateful the fixed expires this June, not next

Exactly. I'm in precisely the same position as the thread starter and I'm just looking forward to going on the SVR when the interest rate drops and I can start overpaying as much as I like.

When you sign up to a fixed deal you're taking a gamble that interest rates will either stay the same or go up. If they go down, you lose out. But you have to know this is the deal before you sign up. Whinging about it and trying to weasle out of it is just silly.

Sorry if this sounds horrible but it's the truth.

wheato

I have just had the same dilemma. Am with Abbey, but they have come up with a tracker deal that is £170 a month cheaper than my 2year fixed rate that i had just sorted in September. Even with the high early redemption penalties I am still quids in and my term hasnt been extended either!!

tartanterra

wheato wrote: »

I have just had the same dilemma. Am with Abbey, but they have come up with a tracker deal that is £170 a month cheaper than my 2year fixed rate that i had just sorted in September. Even with the high early redemption penalties I am still quids in and my term hasnt been extended either!!

Just as well you didn't take advice from catriona69, who stated:

"When you sign up to a fixed deal you're taking a gamble that interest rates will either stay the same or go up. If they go down, you lose out. But you have to know this is the deal before you sign up. Whinging about it and trying to weasle out of it is just silly."

Isn't it great to see someone being smarmy, and then proved wrong!:rolleyes:

And if you can manage it, hopefully the OP can as well!

Well done!:T :T :T

TEDDYRUKSPIN

In both cases, the both of you have asked the lender to go onto their Standard Variable Rate but to pay the early repayment charge. Now, the lender can be funny as they have with you. But nothing stops you moving to another lender and pay the standard variable rate.
The probable reason why they won't allow you to go on their standard variable rate is mainly because it is offsale!

Freddie_Snowbits

catriona69 wrote: »

When you sign up to a fixed deal you're taking a gamble that interest rates will either stay the same or go up. If they go down, you lose out. But you have to know this is the deal before you sign up. Whinging about it and trying to weasle out of it is just silly.

Sorry if this sounds horrible but it's the truth.

Utter Bo11ocks
Coventry has a Special Condition. Miss a payment and go into default (£75 Charge though), then Standard Variable Rate applies. To quote, if the account goes into default, the SVR applies. maybe written in times when the rate was higher, but hard cheese when it is lower.

Tuff for savers though

Gorgeous_George

There seems to be some irony in the posts slagging people off for being frosty, and superior :rotfl:

GG

Gorgeous_George

Damn, now I'm doing it.

GG

catriona69

tartanterra wrote: »

Just as well you didn't take advice from catriona69, who stated:

"When you sign up to a fixed deal you're taking a gamble that interest rates will either stay the same or go up. If they go down, you lose out. But you have to know this is the deal before you sign up. Whinging about it and trying to weasle out of it is just silly."

Isn't it great to see someone being smarmy, and then proved wrong!:rolleyes:

And if you can manage it, hopefully the OP can as well!

Well done!:T :T :T

These are completely different circumstances though. For a start, they had only recently signed up to a deal. Secondly, they signed up to a different deal, not the SVR. The thread started is due to end their fixed deal soon anyway.

feisty1

funniest remark today:
f you write to the CEO, reminding him that, as Nationwide is a mutual, and therefore run for it's members benefit, you are a member and would like to benefit from the new lower BMR. I can't say that doing any of that will make a difference, but it's always worth a try!