Nationwide fixed rate mortgages

peterg1965

For those who are not aware, Nationwide are amending their fixed rate mortgage deals from tomorrow. Not sure if that means from close of business or from start of business. That clearly means that the fixed rates will rise and the sub 5% deals will disappear.

I just managed to get an appointment with the mortgage advisor this morning to convert my 2 year tracker to a 2 year fix at 4.95%. Not sure if 2 years will be enough time to see the BoE Base Rate fall to 'reasonable' (ie below 4%) again! Nationwide have a clause in their tracker mortgages which allow you to convert to a fixed rate deal without incurring redemption penalties, although you have to pay a product fee. I would recommend Nationwide as a very good and competitive mortgage provider.

themoffster

I was going to apply there after my ING direct fiasco (http://forums.moneysavingexpert.com/showthread.html?t=352952), but the site said they don't cover 'shared ownership properties' and I am not sure if that means a flat in a block of four that I buy outright or not. So I will need to phone them tomorrow.

I don't want to go through the whole process again to be stuck with the same problem.

Bargain_Rzl

themoffster wrote:

the site said they don't cover 'shared ownership properties' and I am not sure if that means a flat in a block of four that I buy outright or not. So I will need to phone them tomorrow.

(1) it won't have any relevance to a flat bought outright.

(2) I've got a shared ownership flat with a Nationwide mortgage so can only assume that their website is wrong