Natiowide product switch

Stace255

Hi

We have been looking in to our options for when our fixed term ends later this year, thanks to some advice on this forum and our own research we have decided a product switch with our current provider (Nationwide) looks to be our best bet.

Does anyone know what documents (wage slips/ bank statements etc) we will need and info we will need to supply?

My OH has a second ad hoc job and we have had problems in the past with them supplying wage slips on time and I want to make sure we have everything ready to apply

Also we need to keep the fixed term the same to be eligible for a product switch. does this mean we apply for the length of the original mortgage (30 yrs) or for the remainder of the period which will be 28 years.

TIA

kingstreet

Nothing required.

Residual term.

Have a look online and you should be able to see how it works.

Current details > new product options > new option selected > new option starts.

Stace255

Wow! its so simple!

thank you for your response.

Stace255

Just been thinking about this. Would they not want to know if our out goings or debt had increased? For example we could have got a really expensive car on finance or something!

We haven't but I would have thought they would want to know!

Typhoon2000

No they won’t if you are just switching product.
They will if you want to change anything else like the term or ask to borrow more.

LRmortgage

It’s as simple as a couple of clicks of the mouse. As long as you’re not trying to change anything apart from the product then nothing is required.

Stace255

Apologies, I have one more query on this. When looking at LTV will the lender take in to account the the balance of the mortgage at the date the deal starts (if we switched over early) or what will be left at the end of the current fixed term? We can pay off extra if necessary but would rather not have to find the extra cash while on maternity leave!

amnblog

You can only select a rate based on the loan to value at the time of selection.