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Mortgage - stay with Nationwide or go to First Direct
JOBEN
Posts: 91 Forumite
:money: - please excuse me posting this again but only had one answer to previous post 
I know no-one can predict the interest rates but need a little advice
I currently have our mortgage with the Nationwide or should I say mortgages !!
Around 54k is in two loans at 2% over the base rate currently 2.5% for life of the mortgage. The over 10k is 2.89% until May 2017 then reverts to SMR currently 3.99%.
One of the reasons I have been looking to change my mortgage is because I have 3 payments coming out a month and this frustrates the hell out of me (little ocd here
Anyway I can get BMR plus 1.79% from First Direct for life of the mortgage so was considering this - not only will this get all my mortgage together hence one payment but it is also at a cheaper rate then what I already have.
However to get out of the fixed rate with Nationwide will cost me £422 and I am also wondering whether I should actually fix with the possibility of a rate rise.
Any advice would be greatly appreciated - I have posted previously but this is different scenario.
Thanks in advance
Jo
I know no-one can predict the interest rates but need a little advice
I currently have our mortgage with the Nationwide or should I say mortgages !!
Around 54k is in two loans at 2% over the base rate currently 2.5% for life of the mortgage. The over 10k is 2.89% until May 2017 then reverts to SMR currently 3.99%.
One of the reasons I have been looking to change my mortgage is because I have 3 payments coming out a month and this frustrates the hell out of me (little ocd here
Anyway I can get BMR plus 1.79% from First Direct for life of the mortgage so was considering this - not only will this get all my mortgage together hence one payment but it is also at a cheaper rate then what I already have.
However to get out of the fixed rate with Nationwide will cost me £422 and I am also wondering whether I should actually fix with the possibility of a rate rise.
Any advice would be greatly appreciated - I have posted previously but this is different scenario.
Thanks in advance
Jo
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