Fixed Rate - Silly Question but has anybody managed to get out of theirs

JOBEN

We have fixed rate 5.18% with Nationwide due to end Nov 2011, learnt today that if was on SVR would be paying approx £180 less per month, :eek:
sometimes me thinks its not good reading some info on these sites LOL

_Andy_

You can exit your fixed rate but would need to pay ERCs. Nationwide have a policy of not allowing you to do that and to go on to the SVR anyway.
You have good medium term stability - payments might be lower on the SVR at the moment but you obviously wanted peace of mind of fixed payments which you have at a decent rate.

dimbo61

Read the T&C that came with your paperwork to find out what the ERC is and if it gets less each year!
5.18% is not that bad so if you can overpay by the £500 a month that most Nationwide mortgages allow ( check with lender first )

Peelerfart

"sometimes me thinks its not good reading some info on these sites"

Isn't that the wonderful thing about forums though ?

Some of the comments/opinions are totally tremendous bang on 100% others .................well .

Now which is which ?