Nationwide rates

Tonyw193

I've just noticed nationwide rates have gone from 2.99% to 3.49%. Were yet to complete our application for a 90% ltv mortages. Such a big jump. Around a £45 increase in costs per month on the mortage if i go ahead. Any ideas why its jumped so much. 

leodis23

There's a lot of uncertainty with house prices, we're in a recession, and obviously concerns about a second wave of Coronavirus so probably to mitigate their risks.

I guess I was super lucky getting my application in when they started offering 90% LTV again, my 2-year fix is 2.74% with no fee

Thrugelmir

What interest rate are other lenders offering at 90% LTV? 

RobUK_2

It sounds like the original poster hasn't submitted their application yet, but I wondered if anyone knew the answer to this. I submitted my Nationwide application at the end of July and am still awaiting an outcome. If I'm successful in getting a mortgage with them would it be the same rate and conditions that my mortgage broker informed me of in July or could I now be put on the new, higher rate?

Chloe901

RobUK_2 said:

It sounds like the original poster hasn't submitted their application yet, but I wondered if anyone knew the answer to this. I submitted my Nationwide application at the end of July and am still awaiting an outcome. If I'm successful in getting a mortgage with them would it be the same rate and conditions that my mortgage broker informed me of in July or could I now be put on the new, higher rate?

It should be the rate as was valid at the time your request was submitted. Ours went in on Monday just before they changed the rates and our broker confirmed that we snuck in before the deadline and so would get the 'old' rate.

Thrugelmir

You'll be granted the product you originally applied for. Applications need to be in before rate changes.