We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Nationwide Remortgage Rates Existing Vs New
englandsrose
Posts: 32 Forumite
I notice the rates for new customers are always significantly lower for new business than for existing - is that the norm for all banks? It really annoys me, are they hoping I won't look around and stay because its so convenient (which let's face it I will probably do just that!)
0
Comments
-
Are they significantly different? I thought they were always quite similar with nationwide.
My mortgage is with Virgin (which will be nationwide soon) and their retention products are normally around 0.25% higher.
As you say, its not worth the hassle of moving for maybe £5-10 a month. Some lenders are worse than others but it is fairly common.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
It was the case with Barclays when I renewed. They are correct in there assuming that most people won’t bother, unless they are looking for a further advance or something.0
-
Nationwide says rates for existing customer are as good as or better than for new customers.
https://www.nationwide.co.uk/mortgages/existing-customer-switching/
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.4K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards