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Tell me why I should stay on Nationwide BMR?
Wellgood
Posts: 88 Forumite
Historically the nationwide BMR was seen as a good deal as it was guaranteed at BOE rate +2% for life. So at the moment am paying 2.25%. Personally I think rates will stay low for at least another 2-3 years. However I can switch to a lower rate of 1.59% variable. I am tempted to move but not sure if I am sacrificing a overall good product for short term profit? Any thoughts much appreciated
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Comments
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need far more information to have a stab at what might be a sensible choice for you.
Don't forget your BMR is not just about the rate it comes with features no longer avaialble if you switch.0 -
I went through the same decision making process a couple of months ago and ultimately it came down to the benefits rather than the cost per month.
In the end I decided to stay on the BMR and my other products on a 2 year tracker. I would have saved more money moving all to this tracker rate. However the thing that swung it for me was the ability to make over payments and get it back and the payment holiday option in case the worst thing happens.
in 2 years I will reassess again.0
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