Nationwide Reductions - help.

SanguineOnSaturn

It looks like some rate changes yesterday from Nationwide.

https://www.nationwide-intermediary.co.uk/news/2022/november/rate-changes

My current dilemma

Currrent 5 year fix @ 1.79% ends 28 feb 2023 with ERC

Current switch rates with NW

2 year fix @ 4.84

5 Year fix @ 4.64

2 Year tracker BOE +0.49%

I applied and have been offered a 5 year fix with Natwest at 3 79% (6 months offer so will be beyond the ERC of current mortgage).

Can anyone with a working crystal ball offer any thoughts as I can't decide. I can hang on into next year to see what happens but I'm tempted on the 3.79 fix move currently.?

Approx 33% ltv.

snowqueen555

It isn't going to go much lower than that. I'd personally take it. There is no right answer for everyone, it depends on our own perspective.

RelievedSheff

I would take the 3.79% personally.

We have taken the view that when we come to remortgage again we will fix at anything below 4% for the remaining 10 years of our term.

SanguineOnSaturn

I think this is the way I'm leaning. I just wonder if we have a prolonged recession then interest rates could be lowered again, years 3, 4 & 5 I imagine I could be paying more than I need.