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How do exit fees work 10 year fixed Nationwide?
Comments
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No. 6% of the balance at the time of repayment.Thank you very much for this really appreciated!
Just want to check my understanding very quick.
If i took mortgage for 80k and on year 5 i need to exit the mortgage (for some unforeseen reason) . I would pay 6% of the original mortgage so 4.8k?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
It varies by lender and product.TrickyDicky101 wrote: »Is the sliding scale specific to the 10 yr product as when I took my 5 yr with NationWide in 2011 there was no sliding scale - it was simply 5% of the o/s balance when repaid? I know this was a change as my 2005 5 yr from NW had the sliding scale.
You can have 5/5/5/5/5, 5/4/3/2/1, or any combination based on what the lender's treasury team has negotiated with the party supplying the rate swap.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »No. 6% of the balance at the time of repayment.
Your an absolute star!0 -
kingstreet wrote: »It varies by lender and product.
You can have 5/5/5/5/5, 5/4/3/2/1, or any combination based on what the lender's treasury team has negotiated with the party supplying the rate swap.
Ah so I can see - I see they have reintroduced the sliding scale at the end of last year. Shame my NW product doesn't permit this
Oh well, just another 18 months to go... 0 -
I did try to get a in branch appointment to discuss everything and for some help. But they refuse to see me until i do the DIP online ..
so i rang there help line and they was not prepared to go through example figures to help me understand they told me to go in branch.
What stage do i get the KFI after the DIP or before?
Once you are into the process and have lost the will to live.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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