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Nationwide - switching deal - good experience
densol_2
Posts: 1,189 Forumite
Well after reading about mixed responses to the MMR by different institutions for switching at the end of a deal I thought I would give an outline of my experience as it may assist some.
My deal ends at the end of October but lovely Nationwide allow you to switch within the last three months with NO trigger of the early repayment. I chose 1st August - earliest date possible. I even called up to check as this seemed too good to be true but it was.
My rate was 2.89 it's now 2.39 fixed for three years.
I plan to downsize in three years time
My LTV is 50% - never missed a payment
I logged on line and entered my account details. They automatically work out a new property valuation using their index.
It does not ask for any financial information or confirmation previous details the same ( not that I was worried - but the horror stories do make u worry )
The offer is generated instantly and a text comes through at the same time updating on progress.
I consented to change and it instantly confirmed my new rate from 1st Aug.
Amazing service in my view.
Denise
My deal ends at the end of October but lovely Nationwide allow you to switch within the last three months with NO trigger of the early repayment. I chose 1st August - earliest date possible. I even called up to check as this seemed too good to be true but it was.
My rate was 2.89 it's now 2.39 fixed for three years.
I plan to downsize in three years time
My LTV is 50% - never missed a payment
I logged on line and entered my account details. They automatically work out a new property valuation using their index.
It does not ask for any financial information or confirmation previous details the same ( not that I was worried - but the horror stories do make u worry )
The offer is generated instantly and a text comes through at the same time updating on progress.
I consented to change and it instantly confirmed my new rate from 1st Aug.
Amazing service in my view.
Denise
Stuck on the carousel in Disneyland's Fantasyland 
I live under a bridge in England
Been a member for ten years.
Retired in 2015 ( ill health ) Actuary for legal services.
I live under a bridge in England
Been a member for ten years.
Retired in 2015 ( ill health ) Actuary for legal services.
0
Comments
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Nice to know...
Thanks Denise0 -
Thats really intersting - Did nationwide contact to say about the ERC 3 month thing in advance?0
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Were you on the BMR or SMR prior to the switch?0
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Thats really intersting - Did nationwide contact to say about the ERC 3 month thing in advance?
Nah but i'm before the 3 months anyway - apparently you can do it 4 months in advance to give you a month to "think" about the deals and you choose a date to start within the 3 month window. I was just mooching around on the website looking at the deals then realised I could change.Stuck on the carousel in Disneyland's Fantasyland
I live under a bridge in England
Been a member for ten years.
Retired in 2015 ( ill health ) Actuary for legal services.0 -
Thrugelmir wrote: »Were you on the BMR or SMR prior to the switch?
I was on a 3 years fixed rate of 2.89% ending 31 Oct - my new rate of 2.39% starts 1st August - a day into the 3 month change windowStuck on the carousel in Disneyland's Fantasyland
I live under a bridge in England
Been a member for ten years.
Retired in 2015 ( ill health ) Actuary for legal services.0 -
I'll rephrase the question. What rate would you default onto at the end of the fixed term ?0
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Thrugelmir wrote: »I'll rephrase the question. What rate would you default onto at the end of the fixed term ?
It would be the Nationwide SVR 3.99%0
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