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nationwide change in flexibility
haras_nosirrah
Posts: 2,208 Forumite
Sorry if this has been asked
I know that Nationwide have taken away borrow back and payment holidays for new clients but does it affect existing customers. Want to overpay the mortgage but am reluctant to do so if can't borrow back as we are getting married next year and may well need the money back.
Anyone know?
I know that Nationwide have taken away borrow back and payment holidays for new clients but does it affect existing customers. Want to overpay the mortgage but am reluctant to do so if can't borrow back as we are getting married next year and may well need the money back.
Anyone know?
I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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Comments
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If you fixed your mortgage deal prior to I believe it is April this year then you can claim back any overpayments. We have 2 part mortgages with nationwide 1 which we fixed last June and we can overpay and claim back money but we are on the standard rate of 3.99% when it finishes. The other part was only signed up this month and we cannot claim back any overpayments.
Hopefully someone will confirm this for you or you could phone nationwide on the 0800 number to vertify this.MFIT T2 Challenge - No 46
Overpayments 2006-2009 = £11985; 2010 = £6170, 2011 = £5570, 2012 = £12900 -
haras_nosirrah wrote: »Sorry if this has been asked
I know that Nationwide have taken away borrow back and payment holidays for new clients but does it affect existing customers. Want to overpay the mortgage but am reluctant to do so if can't borrow back as we are getting married next year and may well need the money back.
Anyone know?
Doesn't affect existing mortgage agreements so your fine to overpay and get it back if needed. However should you switch/already switched to a new fixed rate mortgage or another tracker you won't be able to get the overpayments back.0
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