Existing mortgage

Rimmer

Hello

Our 5 year fixed term with Nationwide is due to expire this Sept. We're on 4.19% which is amazing but we know we're gonna get hit with a rise, to maybe 5.5-6% for another 5 year fix. What I'd like to know is: do you think we'll get hit with a whopping arrangement fee EVEN THOUGH we're an existing customer? I've heard this is how many banks/building societies are clawing back their dodgy credit. Not massively keen on looking for other banks as I'd imagine they'd ask for a big fee.

I've not spoken to them yet, just wondering what you lot might think.

Cheers.

_Andy_

Mixed bag - you can see existing client rates for NW here

http://www.nationwide.co.uk/mortgage/existingcustomers/interest_rates.htm

minimike2

Nationwide withdrew thier £100 discount on fees to existing customers a number of months back im afraid, so you pay the same fee as a new customer would.

Rimmer

thanks guys...thats all rather annoying. do you know the likelihood that i could port over the mortgage to another property? we prob won't stay in our present one for another 5 years.

minimike2

AFAIK all Nationwide products are portable, so it will depend on if you will need to borrow more when you move and still fit thier lending criteria.