Product Transfer Process

yorkshiremale1983

Good evening,
i am hoping someone can give me some idea of the product transfer process with Nationwide
as i understand it i will receive an offer 4 months before and should i chose to stay (which i plan to)
i can either log in and accept it myself, or speak to an advisor and move onto the rate when its up, i can also i believe get another switch before time if the rates drop again with little hassle?
my query is, is it as simple as it seems? i understand theres no paperwork or affordability checks?
Also does the house get a desktop valuation, as i assume in the 5 years ive had my house it would go up in value, it may not, but not sure of process.
all seems straight forward, i cant be bothered to remortgage i want ease so will be doing it, but if anyone can confirm that would be fab!
cheers

lfc321

Yes it’s as simple as it seems - a click or two online. You will have a range of options to choose from. 

As for your house value, Nationwide estimates that based on the average % increase in your region. If you look on Mortgage Manager, you can see their current estimate of your house value. This is a pretty crude estimate and may well not be accurate for your particular area/property. It also won’t reflect things like any improvements you’ve made to the house. But for most people it will be close enough: it would only matter if you were close to a LTV boundary. In such cases it may be that you can ask (and pay?) for a proper valuation. I’ve never done that, so not sure of the process.