Porting with Nationwide

rob404uk

I am planning to remortgage with nationwide. My 3 year fix is ending and I plan to take out a new 5 year fix. I was going to apply online for the £100 bonus. I have been searching google and their terms and conditions for porting but cannot find anything. Does anybody know where the link is to the terms and conditions of porting or whether I can port a nationwide mortgage. If I could not this may impact on the length of term I would fix for.

Thanks

Thrugelmir

Porting merely refers to the transfer of existing terms and conditions such as the interest rate .

In all regards this will be a new mortgage application subject to all the normal checks. Porting unless contractually stated, is at the discretion of the lender.

kingstreet

Porting = moving house, taking new mortgage with existing lender and moving rate from old mortgage to new one.

Remortgage = moving mortgage on current property to a new lender.

Product transfer/customer retention product = asking current lender for a new deal to replace old one on current property/mortgage.

Please confirm which you are considering.

rob404uk

I have no plans to move. I just agreed to remortgage but with taking a long fix I wanted to know if I could port the future remortgage. With a friends help I found some terms and conditions and it appears that I can so I went with the remortgage.

Thanks for the replies

kingstreet

Right. So you're remortgaging now and wondering about porting for a house move later?

Just remember porting is moving the rate. You have to satisfy the lender's criteria for a new mortgage to port the rate to at that time. There is no guarantee you'll be granted a new mortgage.