Motgage deal runs out in Jan. Any suggestions please?

mae

Our current mortgage deal with Nationwide runs out in Jan 08 so I am looking for a new deal.

We are currently on a 2 year tracker (0.04%).

I have had a quick look at Nationwides current deals and they don't look that good although I am no expert.

Can anyone point me in the direction of any good deals please?

Bats586

Hi Mae,
I'm in a similar situation to you, in that our Nationwide deal runs out in Feb. There is one offer on the Nationwide site that I'm considering - it is the "Switcher Loyalty Product" which is a 5 year fixed rate deal at 5.63%, but no reservation fees for existing customers - as we don't have a very large mortgage the fees charged have a significant effect on the overall cost of the package.
However if you want to stay on a tracker then this obviously won't be any good for you!
Hope this helps

Bats586

herbiesjp

First port of call would always be your current lender - see what they can offer you.

The smaller the amount of mortgage you have then the better off you will be with lower arrangement fees and higher rates

Once you have seen what Nationwide can offer, see what else is on the market. Nationwide are normally pretty good at retaining their exisiting clients

rca779

I am in the same situation, my 3 years tracker with Nationwide runs out at the end of the year. I am looking to remortgage about £58k over 12 years. Looking around nearly every "deal" appears to attract large fees (seen a couple that are charging over £3k!!).

I don't really want to fix my mortgage at present, so I am very tempted by the Nationwide lifetime tracker at BoE + 0.34% (currently 6.09%). the great thing about this offer is that it is fee free and I will be able to switch to any other Nationwide deal free of charge at a later date (or so I believe).

I have been looking at all the numbers and to be honest with the mortgage I have (£58k) the odd .25% difference in rates makes very little difference.

Does anyone know of any better tracker deals that are out there at the moment that don't have large fees?

mae

Thanks for your replies. The fees do seem high with most lenders. I'm really not sure if I want to go fixed for 5 years as I normally only do a deal for 2 years at a time incase things change drastically. My mortgage is £107,000 so its quite high.

I'll keep looking and if I find anything I will post here and also if anyone has any suggestions please keep them coming.

Thanks

modgit

we're in a similar boat. Our Nationwide fixed deal ends in Jan, we've got £125K with 21 years left. As said before the fees on most mortgages are off putting and we were considering the 5 year loyalty deal as mentioned above.
Any comments?

Bats586

rca779 re Lifetime Tracker,

Hi - I was looking at the lifetime tracker too, and you are right you can switch without redemption charges, But you do have to pay the reservation fee (if there is one) of the product you switch too

Hope this helps

Bats586