Choosing new product - Nationwide

Madbags

Hi All

Not often I make my own thread on here but I am just looking for some advice. This is out first ever house & mortgage.

Our 5 year fixed term product on our mortgage ends next year and I was wondering what the process is.

I understand we'll go onto the SVR and you can re-mortgage or choose a new product etc. but if we were to stick with Nationwide and chose a new product, what would be the process for this?

Presumably we'll get a letter of some kind informing us?

Will we then be able to go online and just pick another fixed term product? Do the options to do this suddenly become available nearer the time? I can't see or find anything on there right now.

Aside from a potential new product fee, are there any other costs involved?

Thanks for any help.

YHM

Nationwide will be in touch 90 days before the end of your existing fixed rate and they will present to you the available rates at that time.

Shouldn't be any other costs if you remain with Nationwide, other than the associated fees for the new rate.

Schoolworker

Nationwide send you a letter stating your fixed deal is due to run out in 3monrhs time. At that time you look the deals available on their website. You decide what you like and phone them and they ask lots of questions (2hr call I remember) and then they suggest a fixed deal for us which is what I was answering my question to go that way. Once agreed they can set this up with no cost unless your deal has a fee attached.

Thrugelmir

To avoid the long call and if you know how you wish to proceed without advice. Apply online.

Sparx

My 5 year fix also ends with Nationwide mid-2019. Only difference is I want to borrow more and add the 20% HTB equity and pay it off... What are the chances of me being able to do that online? :rotfl:

mcpitman

I have just remortgaged from a Nationwide 2 year fixed, to a new 3 year fixed (also with NW).


On execution only (non advised) this took a princely total of 8 minutes from ringing to having offer sent, accepted and new mortgage in place.


No charges occurred, easy and simple process.

YHM

mcpitman wrote: »

I have just remortgaged from a Nationwide 2 year fixed, to a new 3 year fixed (also with NW).


On execution only (non advised) this took a princely total of 8 minutes from ringing to having offer sent, accepted and new mortgage in place.


No charges occurred, easy and simple process.

Congrats on lining the Nationwides pocket. Just the type of customer they love. The lazy one!

Did you even review the market to see if you had a better, more cost effective option?

kingstreet

Sparx wrote: »

My 5 year fix also ends with Nationwide mid-2019. Only difference is I want to borrow more and add the 20% HTB equity and pay it off... What are the chances of me being able to do that online? :rotfl:

None.

Any increase in the amount of borrowing has to be fully "advised".

mcpitman

YHM wrote: »

Congrats on lining the Nationwides pocket. Just the type of customer they love. The lazy one!

Did you even review the market to see if you had a better, more cost effective option?

Congrats on being patronising. With no background knowledge of my case, who I am or what my history in mortgages and mortgage dealings have been.


Best product for me at this moment in time, with minimal hassle and no broker fees to pay!