Fixed Rate Tie In

uktyler

deleted...

MortgageMamma

Are you selling to move house or for anoher reason
i
f you are moving house you could transfer this mortgage onto your new property and avoid some or all of those charges, however if you borrow less thsn you originally did with Nationwide they will charge a proportionate early repayment charge

pstones578

uktyler wrote: »

We have a fixed rate deal with Nationwide, fixed for a further four years (We had no intention of selling, but circumstances change). We want to put our house on the market but Nationwide will want £3000 to let us out of the deal. Is it possible to change mortgage with the same BS, thus ending the tie in, and then sell?
The staff on Nationwides phone help desk are not helpful, even when you csn get through.

I'm in a similar situation as you and on my mortgage I acn repay all but £1 and therefore keep the mortgage alive for the remainder of my fixed period! Therefore avoiding any early repayment costs. You could look into if you could do the same.

kingkano

Surely you can only do that as long as Nationwide can maintain security over the property?| (yes even for £1) hence if your selling it wont be possible....