Nationwide BMR deal and after....

Jamie4000

Hello All
Our current fixed term deal with Nationwide ends at the end of March and so we are likely to go onto their BMR deal, currently 2% above the BofE base rate, i.e. 2.5%.

I expect interest rates to increase at some point, perhaps late this year so at some point we will go to another fixed rate deal.
Does anyone know what is involved in going into a new deal after being on a BMR deal? as an existing customer do you have to go through the whole procedure of paperwork etc (e.g. proof of income)? can you pick a new deal on the internet?

Any info would be appreciated

Thanks

_Andy_

If you're not increasing the borrowing then no checks are involved.

[Deleted User]

I don't know about the internet but you can do this over the phone either with your local branch or Nationwide Direct. Shouldn't take long if you already know what deal you want.

lisaann72red

Our deal is running out with Nationwide at the same time as yours. I have been on to the website and spoken to them on the telephone. If nothing is changing ie your borrowing amount term then I believe you can be switched to a deal without valuations and to much paperwork. The website has a section (coming to the end of your deal)

We are in a different situation as we want to borrow more for home improvements. I have spoken to the broker recommended on here. I think its London and County they have been very helpful and have talked us through our options.

Good Luck hope it works out for you. Its a right gamble whatever you do really.