Nationwide Mortgage BMR

Steven111111

Hi everyone,

With all the new mortgage deals coming out today, mortgages are now only 2.99 percent with a £1000 fee (nationwide mortgage). I am on the Nationwide BMR which is 2.5. Is it worth remortgaging? I'd really like to know what people think.

Thrugelmir

Once you've left the BMR of 2% above base rate you are unlikely to obtain the same rate ever again.

Better to stick on the BMR and build your savings. In case interest rates take a turn for the worse.

opinions4u

Borderline decision.

I might be tempted to fix with a bigger mortgage. But the answer above is just as right.

Loss of the tracker BMR needs to be factored in to the decision.

Judgement call. Most ecomists struggle to predict rate movements.

cootuk

Same positition here, and nationwide have been ringing us almost daily trying to persuade us to go on a different product.
I would look at the longterm and see what you will be paying once another low rate tracker finishes - and those fees for doing the paperwork are horrendous.

Thrugelmir

cootuk wrote: »

Same positition here, and nationwide have been ringing us almost daily trying to persuade us to go on a different product.

Not unsurprising that they wish you to move to another product.

grey_gym_sock

it surely depends partly on how much longer your mortgage will run for, compared to the length of the fixed-rate (or whatever) deal you're considering. the BMR is more valuable if your mortgage has longer to run.

Dave_Ham

I would stick with what you have for a little longer.

All the best