Nationwide Trackers

RyanGP

So with the base rate reduced today to 0.5% will the tracker collar be revised?

On my mortgage key facts it states a collar of 2.75% however my broker advised me at the beginning of the year that as goodwill this has been reduced to 2% this is good but my current offer is BOE +1.34 = 3.34%.

BUT on the Nationwide website it states the SVR is guaranteed to be no more than 2% above base rate therefore today = 2.5%.

I am due to complete on my property in 3 weeks and can switch to another nationwide product without any penalties very confused understanding what are my best options. Thinking of changing to the BMR mortgage and keeping an eye for a good fixed rate?

Please advise.
Ryan

Bargain_Rzl

I think you will find that the BMR is only available for customers coming to the end of a fixed rate or tracker deal, and won't be available for you to switch onto.