Nationwide mortgage rate changes

littlesparkles

I applied for a Nationwide mortgage on Saturday. The rates changed today (25/7/12). Can I change to the new rate? Or am I stuck with the previous one?

Jamman960

From memory the rate will stay the same if it goes up before the mortgage is issued but will go down if the rate is lowered. I'm sure I saw this somewhere on here but can't find it

Thanks for mentioning this, they seem to be changing every rate but the one I'm applying for until now! fingers crossed the above is correct.

betmunch

Jamman960 wrote: »

From memory the rate will stay the same if it goes up before the mortgage is issued but will go down if the rate is lowered. I'm sure I saw this somewhere on here but can't find it

WHAT???????

Ignore the above. Your rate is the rate you booked with your £99 booking fee.

If you wish to change to one of the new rates then you will have to pay the booking fee again to book the new rate.

bobsyourteapots

You would have to pay a new £99 booking fee in order to take advantage of the better rates.

littlesparkles

Yeah that's what I thought. But I've calculated that the new rate would make a difference of 20 pounds a month so it would be worth paying the £99 fee again.

littlesparkles

Nationwide have put me onto the lower rate. However it might just be because nothing had actually happened to the application before I contacted them today. All of a sudden I had texts from them and the valuation is booked. I'm pleased to be saving a little bit on the rate!

Polly05

when is it too late to ask to change to lower rate? how do i know if im too late?
thanks!