Nationwide "U turn" on same deal for existing customers

swinnertond

http://news.bbc.co.uk/1/hi/business/6188752.stm

Quite surprising given that its the number one thing they use on all their tv marketing etc.

Xbigman

When the Nationwide first introduced its policy it provoked an immediate slump in new business, but this quickly recovered as the society has generally offered cheaper variable rate deals for mortgages than the main banks.

I think this says it all. Nationwide has been cheaper than almost everyone else so it has attracted new customers by good rates. Now it is being out-offered on APR for new deals it is going down the same route as everyone else in order to stay competitive. Its a shame that so many people these days just go for the headlines rates and good long term mortgage providers, like nationwide, that offer better overall deals lose out.
Regards


X

Robert_Sterling

Nationwide

Proud to be different .....
..... when they can.

Fairdo_2

Oh dear!

Shot themselves in the foot there a bit, marketing wise!

Brand new customers only.

Wonder if there going to rely on ignorance now.

regularsaver1

Its because other lenders have followed suit

so they have 2 bands

1. Home purchases - first time buyers and home movers
2. Remortgages and existing customers

so new customers are not getting a better deal than existing are they?

Halifax do the same