nationwide 4.79% life tracker

asturdy2

iam a current natiionwide customer coming to the end of a 2 year tracker. Iam thinking of signing up for this deal as its a good rate and you don't have to swop every couple of years and pay arrangement fees. ive done the sums and it seems to be a good deal. Have i missed something ? opinions ?

payless

Not bad - but its all horses for courses

remember that there's a penalty for redemption in first 5 yrs, and of course the rate is higher than the shorter deals - so depending on mortgage size , a few short deals - albeit with costs , can work out cheaper & more flexible

asturdy2

iam looking to borrow 72000 over 28 years so when you look at the 2 year discounts at 4.49% with 500 costs every 2 years then i think its good value as its only 0.3% dearer which is £12 a month x 24 = £240 and the fees are £ 500every 2 years.

payless

Close call on those amounts
although surely the rates are 4.79% & 4.49% ( both with £399 fee)

So the savings in first 2 yrs at lower rate would equate to roughly what you might pay ( if fees don't rise) for a new deal ( if available) in 2 yrs , and this without a 5 yr penalty period over your head

THIS IS NOT ADVICE - JUST NUMBER CRUNCHING

( its not just the monthly payment but also the capital erosion you need to look at)

As I said horses for courses- if it suits you, great