Nationwide rate change notice?

daveaspy

yeah, I know we don't have a crystal ball!
Currently on a 0.94% tracker until the end of the year with NW. With such lows and only seeing things going up long term I might look at a 5yr fix next which I can switch to at any time without penalty and current rate for that is still a pretty good but higher 1.24%, so I'm happy today isn't quite the time to switch. Just wondering how much notice, if any, NW tend to give of their rates changing? Are we likely to see these fixes staying at this level until BoE base rate changes? Fortunately NW mortgage switching can be done in minutes online if there is no change in requirements.

dimbo61

How much extra would you pay at 1.24% to guarantee your mortgage rate for the next 5 years.
It would only take one Interest rate increase of 0.25% or 0.5% for that deal to disappear !
Do you plan on moving ?
Do you need security for next 5 years ?

daveaspy

We only moved 18 months ago and took the cheaper two year tracker knowing we could switch to a fix at any point, not moving again ever 😂

I know that deal will certainly disappear with an interest rates rise, but was wondering if it was likely to stay around until that point and if you can nip in on the day the boe increases rates and still grab the deal before nationwide change their own rated? (There is just something in the back of my mind that makes me think lenders change deals in the days after a boe change, but not sure if that's right) Obviously need to pick something in the next 6 months, but that £25 extra a month is better in my pocket than the banks if things aren't likely to change for a few months.

getmore4less

Lender change rates even when there is no change in base rate.