Just made a £6000 mistake!

mercmanricky

Last week a letter arrived from nationwide informing us we should look at remortgage deals as we are coming to the end of our current 2 year fix at 4.79% We have overpaid the maximum amount every month, so were offered an excellent 5 year fix at 3.79 when we logged on.
I did a little scouting but could clearly see this was an excellent deal and tried to apply on the spot.
My laptop wouldn't let me, so i tried another computer just in case. The day after I tried at work. Every day i have been logging on to give it a go.
Logged on today, the rate for the deal has gone from 3.79 to 4.19.
Over the 5 year fixed deal, that's a £6000 increase. WHOOPS...
When i called nationwide and pleaded for the old deal, they said tuff, you should have called earlier...we are well aware of the problem, you are using google chrome and this will only function in internet explorer!
Hopefully someone else out there will learn from my mistake.

getmore4less

What was your followon rate last time you remortgaged hope it was not the BMR 2.5% tracker one that you gave up!

how much equity?

£6k Over 5 years is a about a £300k loan

DVardysShadow

mercmanricky wrote: »

When i called nationwide and pleaded for the old deal, they said tuff, you should have called earlier...we are well aware of the problem, you are using google chrome and this will only function in internet explorer!

That is truly contemptible and a very frank admission from Nationwide that they are not competent in the provision of Internet services.

themull1

Could you not have just rung them last week?

LiGhTfasT

I fixed at a higher rate a few month ago then wrote to cancel to the online switch because rates had dropped, luckily after a month of waiting they cancelled it and I decided to fix again last week after some banks put the svr up.

It did say that the online switch doesnt work in chrome although the first time i did it on the ipad, not sure but might have used chrome the 2nd time.

Thank god I did it saved me £1000 over 5 years

What you can do is fix at this rate and keep a eye on the rates if they drop before the mortgage comes into play send a letter off to cancel it from there FAQ on the switcher

rich246

Pretty poor show from Nationwide, though I do wonder whether the problems you encountered with signing up to the better mortgage deal was deliberate, or are the Nationwide internet tech team really that incompetent?

As for the Nationwide website, well I've never had a problem accessing it using Safari, Firefox, Opera or Internet Explorer, so can only assume they really didn't want many people signing up to the offer!

I can't help but wonder if the management of Nationwide are becoming far too arrogant with their grandiose salaries and terms and conditions, so next year I will be voting against their salary and pension increases. This is our money they are spending not theirs!

Dave_Ham

Poor show all round from Nationwide at the moment, bring out some market topping rates without the infrastructure to be able to support the demand.

Not only on the technology side, they are still hugely behind in their processing times and once offered any amendments or solicitors queries are taking an eternity. Still as said, good rates.

This may be a blessing in disguise for the OP though. I would be very surprised if you cannot get a better deal on the open market, given some of the 5 year specials out there at the moment.

Feel free to post your mortgage balance and approx. house value and will confirm.