Nationwide updating deals, when?

yant

Hi,

Does anyone know when Nationwide usually updates their morgate deals?

My mortgage with Nationwide is up for renewal on May 1st. I looked around including a lot of info from these boards, thanks, and decided to stick with them and go for a 5 years fixed because I believe interest rates will be slowly on the increase for at least a couple of years.

Their current fixed rate for remortgage is 5.44% no fees. Not the best but competitive overall. I have all the paperwork ready to give to them but I was wondering if there is any chance that say early next week, they would release some new updated better rates following the BoE announcement of no interest raise and some competitors having slightly reduced rate (e.g. Britannia has recently gone down to 5.24 plus fees). In that case, I could gain by delaying my returning of the paperwork just a little to get the new rates.

So does Nationwide historically update their deal monthly or regularly?

Should I just submit now or wait a little in case their rates go down? (or am I risking that they go up)


Thanks

Yan

yorkshire_puddin

this weekend I was offered 5.34 Nationwide fixed for 5 years.. this was through an estate agent mortgage advisor.. hope this is some help!

Suewre

The Nationwide has 5.34 fixed for 5 years if you are moving house and are a Nationwide member, and 5.44 fixed for 5 years if you are re-mortgaging and a Nationwide member. Both with a 10% min deposit and no reservation fee.

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 Limited offer, can be withdrawn without notice.

wardlaw

What you have ben offered is a very competative product and there are no fees Stick with it
John:T

golly99

I was doing the same, current Nwide customer, current deal expiring end of May. Phoned up and reserved the 5yr member deal at 5.44%, just need to sign and send back...was also wondering if there would be any movement before I send back, but looking around not a bad rate at the moment with no fees at all.

pollyanna24

Whenever I look at the rates (like to keep an eye on them as our fixed is up next April), I didn't realise to look at remortgaging as I wanted to stay with Nationwide. I thought (perhaps naively) that it was only remortgaging if you changed company. Does this mean that the 5 year fixed I was looking at, i.e. the 5.34%, doesn't apply to me and I am actually remortgaging?

pollyanna24

I've just tried doing the online calculator to see if this gives me any clue, but the only options are:-

Nationwide borrower - moving
Non Nationwide borrower - remortgaging

What if you have a Nationwide mortgage, just that your want to renew your fixed rate?

kraftkool

I have a Nationwide mortgage (inc further advances) totalling 74000 at 6.74%. I know this is a high rate but I am overpaying by £200 per month and the occasional sum of between £500 and £5000 with no penalty. I can and have in the past drawn back this money. If I could remortage with the Nationwide at the lower fixed rate of 5.44% would I still be able to overpay as I do now?

golly99

pollyanna, if you are just remortgaging with Nwide and not moving to a new property the member exclusive 5yr deal is 5.44%, I've asked this question a few weeks earlier on this board as well. Don't think you can do the calc stuff if you already have a mortgage with nationwide. From looking around though think I'm gonna stay with them as there is no deal to tempt me away without paying all the massive fees.

gogsboy

kraftkool wrote: »

If I could remortage with the Nationwide at the lower fixed rate of 5.44% would I still be able to overpay as I do now?

I'm no expert but I'm pretty sure with that particular deal its a maximum of £500 per month, I think this is the case with the vast majority of their deals.

Switching would save you nearly a grand a year or thereabouts

yorkshire_puddin

Good advice from everybody regarding
Nationwide deals.. I've decided upon 5 yr fixed at 5.34%.
Still can't decide whether to go interst only or repayment??