Nationwide save to buy mortgages

chrisktm

I am 2 weeks away from moving house, i have a nationwide save to buy account which i saved my deposit in and a mortgage via nationwide which I applied for via a broker. I was under the impression that i was not eligible for the save to buy cashback as i had applied via a broker, however i have been told at a help desk in branch that Nationwide should be able to "add" the cashback onto my offer.

I've contacted Nationwide Mortgage Administration and they have said to qualify for the cashback reward i would need to go into a branch and reapply for a save to buy mortgage as this type of "product" isn't likely to be available to my mortgage broker.

Does this sound correct... i'm really just after some clarification here, as i am due to move in 2 weeks and want to move then... so i don't want to re-apply for the mortgage at this stage.

Thrugelmir

Have you asked the broker?

chrisktm

Hi, yes I've spoken to the broker he didn't have any knowledge of it and told me to speak to Nationwide.

xnoxxnox

Today "save to buy" is not that useful. Help to buy ISA is better, but if you are moving in two weeks time - too late to open that. I found "help to buy" products relatively useless - the cashback is offset with a higher rate thus in practice it was better for me to apply direct for a "flexclusive" offer without "help to buy". Similarly, instead of you getting lower rate, the broker gets paid commission at your expense. Thus i'm unconvinced about broker service. I've tried three brokers, and all of their offers were compatitive - yet a few hundred pounds more expensive than Nationwide direct. MSE mortgage calculator, sorted by "total MSE cost in the first year" accurately reflects cost of borrowing. After spending a lot of time comparing various cashbacks from multiple providers nationwide consistently beats on rates/fees/charges/cashback total front, for all sizes and ltvs.

Pa_Ja

Nationwide no longer offer Save to Buy accounts although customers who'd originally opened one were still eligible for the cashback - the value is dependent on the value saved.
The account lasts only three years as well so of you've had it longer you're not eligible.
Your possibly entitled to flexclusives of £750 if your current account is with them and your salary is paid into them.