Nationwide product transfer rates?

Yorkie1

I have a very low (<20%) LTV mortgage with Nationwide. The fix is due to come to an end in 3 - 6 months' time.

I have been keeping an eye on the NW product transfer rates over the last few weeks but they haven't changed (5.99% / 5.89% & 5 / 5.34% for 2, 3 year fixes with no product fee, for example); I had heard suggestions that they might be expected to reduce a little as a result of the drop in borrowers more generally.

Had anyone else heard this, or was this just wild speculation?

I'm not in any particular rush to fix a new deal, but obviously don't want to miss anything that might be useful.

kingstreet

From tomorrow, Wednesday 23 August, we're reducing selected fixed rates by up to 0.40%. This includes rates across our New Business, Existing Customer Moving Home, Switcher and Additional Borrowing product ranges. Visit our website for more details or download our product guide below.

Yorkie1

Thanks @kingstreet

Will look at the rates when they come out, and then probably book something to get the product reserved (even if I later choose to swap again before the time for the product swap arrives)

Yorkie1

My current rate ends at the end of January.

The rates have come down quite a bit since my original post (now 5.05 / 5.08 / 4.8 for 2 / 3 / 5 years without product fee). But they may still slip down further, perhaps.

Does anyone know how late I can leave it to book a new product rate, without risking going onto the SVR for a month at the end of Jan?

amnblog

Your last submission date is effectively 25th January

You can also cancel a reserved rate up to 20th January

So you could request a rate now and swop it if rates drop before the 20th

london21

I am in a similar situation, I am with Virgin money and the re-mortgage rate have dropped over time.

I can see rates now 5.10% 65% LTV no product fees 2 years fixed.

Current rate ends 01/02/2024 and that is the next BOE meeting. 

jackieblack

Like the OP I too have a small mortgage with Nationwide with my current Fixed Rate deal ending at the end of January. I chose a tracker rate (fee free) to switch to several weeks ago but with recent reports of lenders reducing their fixed rate offerings have been trying to find out whether this is still the best deal for me - I have until 20th Jan to change it.
However, I don’t seem to be able to view up-to-date fixed rate deals on their website because the ‘switch is in process’, I just get a message to ring them. 

Can anyone please advise, have Nationwide offers changed recently? Or are the rates shown on the document via kingstreet’s link (dated 8th Dec) still the current offers?

englandsrose

I'm it a similar boat but with 40% LTV and I'm currently on 1.49 with a lock in of 5.05% but they haven't dropped their rates since 07/12! It'll be my luck that I lock in and they come tumbling down all year. Constantly refreshing the news page of Nationwide! 

yolo1988

jackieblack said:

Like the OP I too have a small mortgage with Nationwide with my current Fixed Rate deal ending at the end of January. I chose a tracker rate (fee free) to switch to several weeks ago but with recent reports of lenders reducing their fixed rate offerings have been trying to find out whether this is still the best deal for me - I have until 20th Jan to change it.
However, I don’t seem to be able to view up-to-date fixed rate deals on their website because the ‘switch is in process’, I just get a message to ring them. 

Can anyone please advise, have Nationwide offers changed recently? Or are the rates shown on the document via kingstreet’s link (dated 8th Dec) still the current offers?

Same here, ours ends end of Feb and we got 4.64% 5 yr fix. However with everyone dropping rates at the moment we are now considering doing a tracker for a few months as I'm hoping interest rates will fall and mortgages with it. We were on a 1.6% 😭

amnblog

8th December are the most recent rates, may have some fresh ones next week

Kingsblue

Currently with Nationwide and our fixed rate expires in April, with Halifax / HSBC /FD reducing their mortgage rates, I presume Nationwide with reduce theirs? Any mortgage brokers got a heads up when NW are going to reduce them? Thanks.