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Nationwide Reductions - help.
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SanguineOnSaturn
Posts: 81 Forumite

It looks like some rate changes yesterday from Nationwide.
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.
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Comments
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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.0
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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.0 -
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.
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