discrepancy in fixed rates

Katykat

2yr fixed rate of 4.65% ending on 31st Aug from Nationwide. New 2yr quoted at 6.24%. Report in Daily Mail yesterday says that N,wide reducing to "from 5.78% ". Obviously this means there are different rates for different products. The web page today quotes 6.13% for the particular deal that we have signed up for. I want to know if we are commited to the 6.24% which was applicable when we signed on 15th Aug even though it doesn' come into effect until 1st Sept, or should we get it at 6.13% which is what it is today. It is only a difference of £240 over 2 yrss, but hey, better in my pocket than Nationwide

UK007BullDog

It seems you are stuck with the higher rate. Have you paid the product fee already?

MarkyMarkD

If you've signed up for a product switch, it doesn't matter whether it's not taken effect yet, or you've not paid a fee yet.

You are committed as soon as you sign on the dotted line and return the documents.

Gorgeous_George

Talk to them. They should change your product without too much fuss.

You're the customer and remember - Nationwide are proud to be different.



GG

MarkyMarkD

Well, no, they shouldn't. The OP has entered into a contract and should abide by its terms.

But whether they WILL or not, is a different matter.

Katykat

yes we have paid the fee of £399, so it looks like we have no choice. Suppose its one of those win or lose senario's and we have to grin & bear it. Thanks anyway