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Nationwide deal swithch/Remortgage

Hi,
my fixed deal with NW ends later this year, assuming the interest rates stay similar i would be looking for another fix with NW. Is this a remortgage or just a administrative deal switch? Just interested.
£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
!

Comments

  • Yorkie1
    Yorkie1 Posts: 12,179 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    It's a product transfer for existing customers. You can do it online without any further credit / affordability checks if you're not asking to change amount borrowed or term left.

    A remortgage is a switch to another lender.
  • ty Yorkie.
    £1000 Emergency fund No90 £1000/1000
    LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
    !
  • nuzik
    nuzik Posts: 38 Forumite
    although you can do it online thats with disclaimers about no advice was given and less backing from the FCA.
    Its just a simple product switch appointments last about 30-60 mins
    I am a Mortgage Adviser
    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.
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