Nationwide Rate Changes

MortgageMamma

[FONT=Arial, Verdana, Helvetica, sans-serif]Changes from 15th August [/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]Nationwide is increasing all its fixed rates:[/FONT] with effect from 15th August

• [FONT=Arial, Verdana, Helvetica, sans-serif]
  
• 2 year fixed rate with £699 reservation fee from 5.09% [/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]
  
• 2 year fixed rate with £399 reservation fee from 5.18% [/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]
  
• 3 year fixed rate with £399 reservation fee from 5.38% [/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]
  
• 5 year fixed rate with £399 reservation fee from 5.33% [/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]
  
• 10 year fixed rate with £399 reservation fee from 5.33%[/FONT]

[FONT=Arial, Verdana, Helvetica, sans-serif]There will also be further increases from 1st Sept, If anyone wants details I will copy and paste them onto this thread[/FONT]

TangentMan

Ooh, yes please do post the 1st September changes too.

missk_ensington

Hi L its N! x

MortgageMamma

Hi N nice to see you my friend x Hope you are well!

tonydee

Makes me feel better having received my mortgage offer this morning with the reserved rate applied.

MortgageMamma

[FONT=Arial, Verdana, Helvetica, sans-serif]Changes from 1st September 2006

• Base Mortgage Rate increased to 6.24%

All tracker rates will be increased by 0.25% in line with the Bank of England base rate change with effect from 1 September 2006. [/FONT] [FONT=Arial, Verdana, Helvetica, sans-serif]Key Selling Points[/FONT]

[FONT=Arial, Verdana, Helvetica, sans-serif]
[*]Free valuation and free standard legal service for remortgagors [/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]
[*]Overpayments, underpayments and payment holidays are available on all products[/FONT] [FONT=Arial, Verdana, Helvetica, sans-serif]
[*]No higher lending charge [/FONT]Product Reservation Fee
(If applicable)Max 90% LTV Max 90% LTV
(Home buyers only) With a reservation Fee 2 Year Fixed - Option A NEW from 15 August£3995.18%5.58%2 Year Fixed - Option B NEW from 15 August£6995.09%5.49%3 Year FixedNEW from 15 August£3995.38%5.78%5 Year FixedNEW from 15 August£3995.33%5.73%10 Year FixedNEW from 15 August£3995.33%5.73%2 Year TrackerNEW 90-95% LTV band
from 15 August£4994.37%4.77%Lifetime Tracker NEW 90-95% LTV band
from 15 August£3994.68%5.08%Without a reservation Fee 2 Year FixedNEW from 15 AugustN/A5.58%5.98%3 Year FixedNEW from 15 AugustN/A5.78%6.18%5 Year FixedNEW from 15 AugustN/A5.73%6.13%10 Year FixedNEW from 15 AugustN/A5.73%6.13%2 Year TrackerNEW 90-95% LTV band
from 15 AugustN/A4.77%5.17%Lifetime Tracker NEW 90-95% LTV band
from 15 AugustN/A5.08%5.48% BMR With effect from 1 September 6.24%£99 non-refundable administration fee applies to all remortgages. To reserve fixed and tracker products Key Dates Deadline for receipt of applications / reserving existing fixed rate and 90-95% LTV tracker products is 5pm 14 August 2006, new products available 15 August.

• Products without a reservation fee will be reserved once the application form, clearly indicating that a 'no fee' product has been chosen, has been received.
• Products with a reservation fee will be reserved once the application form and the non refundable reservation fee have been received.
• Products where the reservation fee has been added to loan will be reserved once the application form, clearly indicating that the fee should be added to the loan, has been received.

Remember, products can be reserved online through MTE (Mortgage Trading Exchange)

All you need to do is:

• Complete a FULL application (do not get a Decision In Principle for your client first)
• Include your clients' credit/debit card details on the full application to pay the reservation fee if applicable
• If MTE returns an 'accept' decision then the product will be reserved
• It is also possible for you to deliver paper applications direct to a Nationwide branch or Service Centre before 5pm on the 14 August 2006 - please ensure that all relevant fees and documentation are included with the application to pay the reservation fee if applicable.

MortgageMamma

Sorry for the cut and paste i really couldnt be bothered to type all that!

tonydee

The two percentage figures in each deal, does that represent the rates with and without fees ?

MortgageMamma

Sorry thats pasted really badly. have a nosey at the nationwide notification on the intermediary site via this link

http://www.nationwide.co.uk/intermediaries/product-updates/charges_to_mortgage_rates_11_august.htm

AndrewSmith

Nice one MM

I would also be expecting the other major lenders to be following suit shortly.

Andy

MortgageMamma

Yes, as soon as they do we should make a point of putting the details on here, sure we can manage that between us