Ditched the fix! For a fix!

Coops71

I thought I'd save some on some money but hey ho

bigadaj

Was it worth doing? The savings barely exceed the extra cost seemingly, financing the cost now would exceed the savings as the erc is laid now and the savings only occur over time. I'd be happy if I wer nationwide.

opinions4u

Coops71 wrote: »

If you call £2600 barely exceeding costs your on the wrong forum ! It's a lot of money too me!

It reads that you've saved £200.

one phone call to Nationwide no fees (except ERC) long story short payed £2600 to save £2800 (over the 5 years)

TrickyDicky101

Or did you mean £2800 per year? Which would make sense in savings terms.

John424

In fact the 200 quid saving is probably eroded to nothing in real terms as the cost is now and savings discounted!

opinions4u

Coops71 wrote: »

To save £2800 over 5 years.....

Thanks for the complete lack of clarity!

opinions4u

I give up.

mrginge

2800-2600 = 200

...or have you reduced your payments by 5400 meaning a net saving of 2800?

opinions4u

Crikey. It appears to me, from what you have typed, that you have paid £2,600 out and gained £2,800 back - a net benefit of £200.

I suspect from your excitement that this is possibly not the case and you've actually paid out £2,600 to gain £5,400 - a net benefit of £2,800.

But you haven't been successful in articulating this, despite prompts, so it's as clear as mud.

Assuming it is the latter scenario, well done. I assume you've signed away the 2.50% go to rate to achieve this.

mrginge

Coops71 wrote: »

I fail to see what bit of saving £2800 is not clear? Any way I will try again !
I have saved £2800 in morgage payments over the 5 years because I have reduced my monthly payment therefore getting back the ERC and saving money long term
I just thought I would put it up because I've spent the last few years reading about folks 'stuck' in high fixes and nationwide offered me a deal to at least partially save some money ....I'm open for people to tell me if I've made the right choice or not as I'm still not sure if losing the BRM was a wise move

For crying out loud. Have you saved 2800 or have you saved 200?

opinions4u

Coops71 wrote: »

In my OP I put that I saved £2800 , I could have put the breakdown of the whole deal (I wish I did!) but I thought that I Saved £2800 was enough , I also put that I lost the BRM and I was concerned about that part of the deal . I was kind of hoping in my needy way for some comments that I'd done the right thing put mostly it was just incase any body else is 'stuck' on a long term fix there is a way to save some money , any way thanks for pointing out my short comings explaining a deal where I've saved 'some' money

Is it me, or does this still not fully clarify things?