Fixed rates could be repriced slightly higher (due small increase in swap rates)

payless

fixed rates are priced with flow of thought of future rates, rather than the actual rate at the time

eveyone was saying certain base rate drop, likely followed by another

Now we hear the vote was only 5 Vs 4 in favour of a drop, and less confidence in market that another will happen immediately, especially as inflation ( fulled by oil prices?) is a little higher than expected

although just seen this http://www.forbes.com/markets/feeds/afx/2005/08/21/afx2186902.html

Woby_Tide

just hope Nationwdie don't reprice before Thursday so we can pay for a deal on their current fixes

payless

They usually ( although not always) give a couiple of days notice

Why are you delaying? Is it just the time to make the application or worrying about fees - because they now allow fees to be added instead of upfront ( apart from the valuation fee in puchase cases)

Woby_Tide

that was the earliest I could get an appointment, we're 2 months ahead of our remortgage official date and over the phone they can only do 1 month in advance, branch is up to 3 months so booked appointment, also didn't realise they allow you to switch to a new deal a month in advance of your actual finishing date which is quite good and saves a month on higher interest

TrickyTrotter_2

I've switched tonight over the phone with Nationaide Direct from Base Rate Tracker (due to end 30 Sept) to 3yr fixed (4.59%). The adviser told me I could switch up to 3 months in advance - this suggests the same timescales for both branch and phone. My new mortgage commences on 1 September.

MarkyMarkD

Woby_Tide wrote:

that was the earliest I could get an appointment, we're 2 months ahead of our remortgage official date and over the phone they can only do 1 month in advance, branch is up to 3 months so booked appointment, also didn't realise they allow you to switch to a new deal a month in advance of your actual finishing date which is quite good and saves a month on higher interest

I think you mean "product switch", not "remortgage" - aren't you already a Nationwide borrower?

jnd

As it's now 2 weeks since MortgageGenie originally posted, any chance of posting the latest swap rates so we can see what way they've moved?

Woby_Tide

MarkyMarkD wrote:

I think you mean "product switch", not "remortgage" - aren't you already a Nationwide borrower?

I am yes. Just confused now others have been able to switch over phone that early when they said they could not, would be much easier

Woby_Tide

this page any good for swap rates

http://www.clpuk.com/swaps.htm


So 9th August

Swaps Yesterday:
1 yr 4.57%
2 yrs 4.56%
3 yrs 4.61%
5 yrs 4.67%


24th August

1yr 4.56%
2yr 4.55%
3yr 4.58%
5yr 4.62%
10yr 4.66%

Woby_Tide

finally got through to someone else and they agreed that within the 3 months I could change over the phone, also they said if I'm quick I can switch on 1st September(current deal doesn't officially end until 30th Oct) so an extra 2 months on a better rate which is nice.

Then after being overwhelmed by the good news I made a boo-boo and wasn't paying complete attention that the monthly figure he quoted was higher than what we had calculated. I had forgotten that despite us coming to end of 3 year track with 22 years to run, we had overpaid a fair bit initially that meant on nationwide's systems we only have 20 years left on mortgage so that was term he was quoting......doh...trying to get the wife on the phone now to see if we want to stick with that or make it 22 year and gain £40 odd quid a month back(which was part of the re-mortaging reason in first place!)

Ah well! Just happy that I can change early and save on mortgage payments, plus switched MPPI elsewhere for half the price and also halved CI insurance via a works salary sacrifice, a thorough makeover......