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Nationwide fix rate different when applying online?

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Our Nationwide mortgage is due to expire at the end of May and we have an appointment in a couple of weeks with them. Probably sticking with them on their 5yr member no fees mortgage. This was listed as 5.44% on the website, however, if you apply online (or do a calculation of how much it would cost you) it comes out at 5.34%? Anybody know what the correct rate is, obviously if this is a mistake, I'll apply online now, lol!

Comments

  • debjam
    debjam Posts: 132 Forumite
    I spoke to a lady at my local nationwide as we are coming to the end of our fixed rate and she told me 5.34%.
  • golly99
    golly99 Posts: 454 Forumite
    Part of the Furniture Combo Breaker
    debjam wrote: »
    I spoke to a lady at my local nationwide as we are coming to the end of our fixed rate and she told me 5.34%.

    That's good news then - we have an appointment in a couple of weeks, getting concerned this rate may be taken off before we have our meeting, is it possible to reserve the product on the phone before the meeting to guarantee the rate? Our mortgage expires at the end of May. Just got visions of the interest rates going up soon as everyone else seems to be predicting.
  • timodell
    timodell Posts: 33 Forumite
    Sorry to disappoint you, but the 5.34% rate only applies for new purchases. The rate for remortgages is still 5.44%!!
  • amyface
    amyface Posts: 84 Forumite
    timodell wrote: »
    Sorry to disappoint you, but the 5.34% rate only applies for new purchases. The rate for remortgages is still 5.44%!!

    Not entirely sure where you got your information from? Perhaps this information may help to paint the picture further
    http://forums.moneysavingexpert.com/showthread.html?t=388099&highlight=nationwide

    Also at the bottom of this link you will find the following:
    http://www.nationwide.co.uk/mortgage/homebuyers/rates.htm

    Fixed rate mortgages - Member Exclusive* with no Reservation Fee

    10% minimum deposit
    5 years
    Initial rate 5.34%
    Followed by 6.74%
    The overall cost for comparison is 6.3% APR

    *Available to Nationwide members of 3 years or longer. You are a member if you hold a current account (FlexAccount), savings or mortgage product with Nationwide Building Society. Limited offer, can be withdrawn without notice.

    So if you are already a member, as the previous posters have said, it will be 5.34%. Hope this helps
  • timodell
    timodell Posts: 33 Forumite
    I hate to be pedantic, but I am afraid you are wrong! The 5.34% rate is only for new purchases, the equivalent "members" rate for re-mortgages is definitely 5.44%. If you go into your first link, the press released attached makes this clear, as do other replies on that thread. Your second link is to a sub-page of the "new purchases" section of the web-site - hence the reference to 5.34%. Just want to avoid disappointment...
  • amyface
    amyface Posts: 84 Forumite
    Apologies for my error - It would appear that I did indeed misread. I'll let my sister know who is an existing N-wide customer who has asked for a re-mortgage and is part way through doing the paperwork and was offered 5.34!

    But having re-read I think I've noted that for existing peeps that there are no fees with the 5.44% rate. So £500 saved there which, unless your mortgage is significant, this should make the cost of both products reasonably similiar. For her there will be no disappointment to avoid..
  • golly99
    golly99 Posts: 454 Forumite
    Part of the Furniture Combo Breaker
    oops, didn't want to cause an argument!

    pity it's 5.44% but still not a bad rate with no fees I guess. Anyone have an idea on if you can reserve the product over the phone if you're an existing mortgage customer? Don't want the rate to go even higher after the beginning of April before we have our sit down meeting!
  • bambam_2
    bambam_2 Posts: 163 Forumite
    They can do a telephone interview. I have one arranged for tomorrow as it was quicker than waiting until I could go in to the branch.
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