Nationwide Mortgage Rate

you_llneverwalkalone

About ten days ago I signed up to a 5 year fix rate with the Nationwide at 2.14% which is due to start tomorrow and today the Nationwide have reduced their rates.

The rate I signed up to has now reduced to 1.99%

Is it worth me calling the Nationwide asking for the 1.99% or am I stuck with 2.14%?

I,m just a bit annoyed that they have reduced rates today, not very long after I fixed!

:mad:

liviboy

Have you tried completing the switch request online and setting the start date to tomorrow? You never know!!

bowlhead99

If you have accepted the offered rate to commence tomorrow, and don't contact them before tomorrow when the rate starts... it would seem too late to change, because that is of course the point of signing up to 'a fix'! But you could always try doing something online or calling the minute they open.

I'm waiting for a purchase to be ready to complete and had the offer at 1.99 after applying two or three weeks ago, which now seems to be 1.94. So I will try to hop onto that new lower rate if I can.

However I was in a similar situation some years back when doing a 4-yr fix, the rate went down by a quarter percent while waiting for completion, so we asked to move down to it and blindly signed it off ASAP in fear of having to go through more credit checking palaver. However unless I'm mistaken (I discarded the paperwork which had been superseded) our ERC ended up being higher for longer into the term than what I'd remembered. So, if you are doing any last-minute messing about, check that any change is like-for-like.