Rate offering changed before mortgage start.

swift_gti

Hi all,

We are completing on our property purchase next Friday and had agreed a 5 year fixed rate with nationwide at 2.99%.

However i've just noticed that for our LTV their 5 year fixed rate offering has now dropped to 2.74%.

Not a huge drop but all adds up over the 5 year fixed period.

Is there any chance we can get the lower rate given the mortgage hasnt started yet?
Obvious time is short given that we complete friday, and we have signed all the relevant papers for the original mortgage offer so not really sure what to do..

lee111s

You need to speak to Nationwide but I fear it may be too close to completion.

kingstreet

Ask your solicitor if they are prepared to complete with an electronic copy of the offer, or a faxed copy at best. They can download mortgage deed and certificate of title from the Nationwide website but most won't.

If they insist on having the paper copy and instructions, forget it. Nationwide post out second class and after taking two days or more to issue a revised offer, it will be another five to seven days before the paper hits the doormats.