Mortgage offer received, but seen a better deal from same lender.

PJD

Nationwide is now offering exactly the same product but it's 1% cheaper.

Have you any experience of changing this? My mortgage adviser has told me that they'll probably want another booking fee (£99), - is this typical?

Seems like money for nothing??

G_M

Ring Nationwide and ask?

PJD

G_M wrote: »

Ring Nationwide and ask?

I did that before when I had another query, - my broker has since asked if I always go through him. I just want to see what other people's experiences have been the same in regards to the £99 booking fee.

I'm sure i read something a few weeks ago whereby someone was only charged a tenner.

betmunch

I have recently had the same thing for a client, although I was the one telling the client about the rates going down, which is as it should be!

I was told the booking fee will be payable again if they want the cheaper rate.

G_M

PJD wrote: »

I did that before when I had another query, - my broker has since asked if I always go through him. I just want to see what other people's experiences have been the same in regards to the £99 booking fee.

I'm sure i read something a few weeks ago whereby someone was only charged a tenner.

And you always do what you're told by people you employ?

Speak to the Nationwide. The worst that can happen is they give you an answer you don't want to hear.

ab7167

Will it save you more than £99

The_Palmist

I had a similar experience with Halifax, they changed the product and didn't charged me any extra fees. Always worth asking.

sonastin

You've reserved a particular product at a particular rate. If the rate had gone up, you wouldn't want to change it. Nationwide are also looking at it in the same way - they've sold a mortgage at one price, why should they change it for a lower "priced" product. Its like buying something in december that is cheaper in the january sales - shops don't have to let you return it at full price to buy again for less, although a lot do simply because it is good customer service...

Werdnal

I agree sonastin, whilst there is no harm in OP asking, they will probably say that the existing mortgage offer was made on the terms available at the time of application, and to the individual circumstances of the applicant.

Its a bit like car insurance - policies vary from person to person, insurer to insurer on an almost daily basis. You may see a better offer advertised, but it may not apply to you, your circumstances or the property the loan is being applied to.

Chin

We did this.
Just had to pay new mortgage product which is fair.

Savings each month on the repayments cover the second mortgage fee within a month in our case! Well worth doing.

779

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