Naughty Nationwide

Milarky

..have put up the authorised overdraft rate from 7.75% to 9.9% today and ended the preferential rate for mortgage customers at the same time (they must be feeling the pinch!)

Have just noticed this was on my statement for 1 September (I also noticed that they had used '9 point' print - ie conspicuously smaller than they normally use when printing information at the bottom of the page)

morg_monster

Thats interesting, we got a letter through about opening our new joint flexaccount and it said our overdraft was at 7.75%. might have to check up on that with them before I use it!

Miss_Penny_Pincher_2

Milarky wrote: »

ended the preferential rate for mortgage customers at the same time (they must be feeling the pinch!)

Do you know what this means e.g. are they stopped doing the £100 discount for current nationwide customers who are remortgaging?

Thanks - just wondering as my current mortgage is with them and was considering remortgaging with them soon!

Milarky

Miss_Penny_Pincher wrote: »

Do you know what this means e.g. are they stopped doing the £100 discount for current nationwide customers who are remortgaging?

No. It just means that Flexaccount overdraft rates are now the same for all customers (Mortgage customers used to benefit from a 0.5% lower rate - 7.25 rather than 7.75 - on the bank overdrafts)