Nationwide - now switch within 5 months of end instead of 3??

liviboy

Hi all,

I was just on the Nationwide website when it caught my eye that you can now switch to a new deal if you're within FIVE months of your deal ending...I'm certain it used to be 3 months!!

You can switch if:
Your current deal is ending - you’re 5 months or less from the end of your Nationwide deal. OR
You’re on our Base Mortgage Rate (BMR) or Standard Mortgage Rate (SMR), OR
You’re on a tracker mortgage
You're mid-deal on a fixed rate mortgage - but not online, you'll need to give us a call or go into branch (This link will open in a new window) as there'll be an Early Repayment Charge (ERC) to pay.

And:

There’s at least £1,000 left on the total mortgage accounts you want to switch.
You have 2 or more years left on your mortgage term.

https://www.nationwide.co.uk/products/mortgages/existing-customer-switching/guide#canYouSwitch

When did it change?

buttonmoon

I remortgaged in Jan ‘19 and it was still three months then

Sheep

Changed about 3.months ago.

You can select new product up to 5 months in advance however it must still start within 3 months of your existing deal ending. It cannot start 5 months in advance

harshitguptaiitr

From https://www.nationwide.co.uk/products/mortgages/existing-customer-switching/apply

You can apply to switch online if you're 5 months or less from the end of your current fixed rate deal, but your new deal won't take effect until you are within 3 months of your deal ending.

Dandytf

OP
I chose my 2 year tracker 5 months ahead of 5 yr fix ending,
The deal or mortgage product you choose will be saved and swapped over when existing deal ends.
Enjoy as my previous Natwide deals were all upto 3 months until latest.
The 5month choice gave me a different look at existing deals which helped me take a slight gamble and took 2.34% 2 year tracker-think maybe next year I could get caught if rates rise-though can swap onto another deal nearer the time if required.
Hope I don't get caught and it costs with a higher rated fixed.
I have though left the option open of moving if my council home application moves up in priority.