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Is it worth doing?
yorkshire_laura
Posts: 174 Forumite
Hi,
I am currently on a 3yr fixed rate with Nationwide with 18 months left. The interest rate is 6.78% and my mortgage balance is around £94000. Is it worth paying the 4% penalty and coming off my fixed rate to go on to the variable rate of 2.5%?
Thanks
I am currently on a 3yr fixed rate with Nationwide with 18 months left. The interest rate is 6.78% and my mortgage balance is around £94000. Is it worth paying the 4% penalty and coming off my fixed rate to go on to the variable rate of 2.5%?
Thanks
0
Comments
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Unfortunately you can't pay the redemption fee at nationwide and then go onto their 2.5% rate. The only way to get out of a product at nationwide is to pay the mortgage off completely paying the ERC and take a mortgage out with another lender.0
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Ok, thanks for the reply!0
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