Nationwide ups variable rates

Cozworth806

The_Jackal wrote: »

Hi All,

Just read the Mail article and checked the NW site and still no press release.

Wonder if anyone can advise on the below-

I have just come to the end of my 2 year fixed with NW, first variable repayment has gone out my account today @ 2.5%.

Should i be anticipating a letter from NW advising that in future i will be paying @ 3.99 or does that only relate to new customers to NW securing a fixed deal post 29 Apr.

thanks in advance for any guidance.

The latter.

That said the changes yet again do nothing to uphold the marketing of mutuality pays, as there are many people who will look at Nationwide and compare those rates to say C&G (Lloyds TSB) and figure that it is better to pay to a PLC (albeit a partly nationalised one!)
Again with overdrafts, very poor savings rates and other changes it
makes me wonder if they are simply exploiting the "trusted" status that they have and frankly taking their customers for granted.

Whether they shareholders or not I am failing to see the benefits to me as a customer/member

payless

Just come back from holiday and reading up on this .. something for existing NWide borrowers to remember... if at end of existing deal you take a new deal rather than BMR (currently 2.5% variable ) your new deal will revert to SMR ( currently 3.99% variable )

beecher

By the time these new deals come to an end, SVRs are unliikely to be as low as they are now anyway - it is only recently that they've been seen as a good option.

payless

but to be losing the option to take a base+2 option could be a big thing