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Nationwide Mortgage Rate Switching
IAMIAM
Posts: 1,394 Forumite
I do not understand why they have existing mortgage offers that are significantly lower than new customer mortgages. Yet new customers can come along and take out a tracker mortgage and then switch a week later to a much more favourable rate as an existing customer. Surely this defeats the objective, yet when I have asked them - they say its normal and there is no problem doing it...even though it looks a major loophole.
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