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Today's Daily Mail
Comments
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More gloom from the Daily Mail...................
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=547892&in_page_id=1770
Don't you just love the Daily Mail! "Now families face £1,300 a year mortgage increase."
Actually, it's "Nationwide customers, who don't leave could face £1,300 a year mortgage increase." I guess it doesn't sound very Daily Mail does it.
I have a 2 year tracker mortgage with Nationwide (4.65%) which comes to an end in June, so I looked into a new deal this month. I wanted a tracker with them, and they offered me around 0.9% above base rate, which was already an increase from 0.44% the previous week. It is now a ridiculous +1.44% above base!
Needless to say, I have gone elsewhere to get an excellent deal with HSBC (+0.23% above base).
Point is, there are still loads of excellent deals around, particularly if you want a long term tracker, offset (remember how expensive they used to be?) or fixed rate (Woolwich at 5.23% for 10 years). Nationwide are not the only lender out there, and frankly, they have been less and less competitive since I first became a customer in 2002.
The irony is that Nationwide's 'prudent' lending will only be served by 'imprudent' borrowers who decide to stay with them. I won't be one of them. :rolleyes:0 -
My heart really bleeds for people paying 6% mortgages.
I can remember when the mortgage rate hit 15% but of course the average house wasn`t well over valued as it is now.
Low mortgages
high house prices
High mortgages
low house prices0 -
There are also rumours they might drop interest rates by a full 0.5% within the next 2 months.
These drops wont be passed on to buyers though. They will use them as security. However, if you're an existing customer on a tracker mortgage you could be laughing. FTB products and fixed rates will stay the same IMO.0 -
I disagree, I'm sure Nationwide will drop if the BoE do.dannyboycey wrote: »These drops wont be passed on to buyers though. They will use them as security. However, if you're an existing customer on a tracker mortgage you could be laughing. FTB products and fixed rates will stay the same IMO.
"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Guy_Montag wrote: »I disagree, I'm sure Nationwide will drop if the BoE do.
They are putting them up now in anticipation of this - then when they drop to effectively what they were before, unasuming punters will say "ooh look,, Nationwide are dropping their rates"... all very sneaky. That's business I guess. I'm sure my savings rates will be cut again though, which really infuriates me!!0 -
there are still excellent deals around for people with low LTV's and low multipliers
that pretty much rules out the majority of purchasers in the past 18 months.It's a health benefit ...0 -
I have noticed that the LloydsTSB have changed their tv ads. Before they were emphasising borrowing to do what you want. Now they are suddenly we'll help you save for the journey of life
Short of cash maybe?! I took most of my money out of them and stuck it in my one account which can't have helped 0 -
I have a 2 year tracker mortgage with Nationwide (4.65%) which comes to an end in June, so I looked into a new deal this month. I wanted a tracker with them, and they offered me around 0.9% above base rate, which was already an increase from 0.44% the previous week. It is now a ridiculous +1.44% above base!
Needless to say, I have gone elsewhere to get an excellent deal with HSBC (+0.23% above base).
Is the deal you got on their website? The cheapest tracker I can see there is base +0.38%0 -
I booked the deal earlier this month (the day before they changed to 0.38%, in fact).
HSBC still appear to have the cheapest tracker, even at 0.38%.
And it looks as though there are no Early repayment charges too - unlike Nationwide's 3% for the first 5 years of a life tracker..pretty good deal0
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