We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
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
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards