In deal switch Nationwide 10 year fixed existing customer query

aimex

No it won't the 6500 is a one off credit or debit card payment

aimex

Thank you Jimmy for taking the time out to explain that. I will havr a read thru again and also look at the calculators on here didn't know they existed x

lee111s

amnblog wrote: »

The £6,500 will be added to the loan Lee.

The OP mentioned that it can't be added to the loan and it required as a one off payment.


OP - You're mental if you switch imo. Stick it out, overpay as much as you can and change deal when your time is up. Interest rates aren't looking to be going anywhere anytime soon so I wouldn't get too caught up in it all.

Thrugelmir

amnblog wrote: »

The £6,500 will be added to the loan Lee.

OP suggests not.

This is an upfront penalty and not added to the balance.

JimmyTheWig

Does anyone know what a decent 10 year fix interest rate was at the worst point in the last 10 years?
Or what the average decent 10 year fix rate is?

I.e. can we give the OP an idea whether 10 year fixed rates are likely to be more than 3.44% in 2 years time?

Cashstraped

We locked in to a 10 year mortgage but we're refused a way out. Told if we went else where we would not be allowed to come back. NW customer since 1975. do we have a case to complain and who to?

lee111s

You do have a way out, pay the ERC. You signed up to the terms, you can't complain that they're wanting to uphold them terms!

ethank

10 year fix sounds a long time, what happens if you need to move.
There is a massive early repayment penalty to pay if you decide to move/change - even in Year 10 - it is still 1%

Are you sure you will not move again?