has anyone ever renegotiated their fixed rate??

waveydavey1

Hi can't remember where i heard about this probably from martin, it was someone saying that it is worth approaching your mortgage lender (mine being nationwide) and ask for a rate cut on the fixed rate that you already have, apparently some have asked and have got a reduction, is this true and has anyone done it ???? mine had run out just as the housing market was going crazy so the best i could get was 6.45 for five years!
cheers dave

_Andy_

You can come out of your fixed rate but you will need to pay early repayment charges as per your mortgage offer.

dunstonh

Nationwide have been reported by some on here as not allowing you to buy yourself out of your current deal into another. They will allow you to buy yourself out and remortgage though.

apparently some have asked and have got a reduction

Martin's thread on this made reference to one individual and many of us here believe that the information is mistaken. e.g. the person wasnt in a deal in the first place, was close enough to the end so a new deal could be arranged or they arranged a new deal and paid the costs for doing it.

waveydavey1

no problem i suspected as much looks like i'll have to put up and shut up again!! LOL many thanks for the replys