Nationwide mortgage rates

MarkyMarkD

!!!!!! here I know you won't appreciate this, but it really wasn't sensible ending up with different fixed end dates when you ported your mortgage.

Was it really too expensive to pay SVR on the top-up portion, rather than ending up in the situation you now have?

Unless the top-up was more than the original mortgage, you are going to end up paying over the odds on a larger amount than if you had done it the other way round.

You must aim to get your whole mortgage back in sync, or you'll have never-ending tie-ins and never be able to leave Nationwide.

MarkyMarkD

good Nice to see that Nationwide are sticking to their "pleased to be different" or whatever the slogan is.

Many other lenders don't differentiate between LTV bands for existing borrowers.

Dick_here

MarkyMarkD wrote: »

!!!!!! here I know you won't appreciate this, but it really wasn't sensible ending up with different fixed end dates when you ported your mortgage.

Was it really too expensive to pay SVR on the top-up portion, rather than ending up in the situation you now have?

Unless the top-up was more than the original mortgage, you are going to end up paying over the odds on a larger amount than if you had done it the other way round.

You must aim to get your whole mortgage back in sync, or you'll have never-ending tie-ins and never be able to leave Nationwide.

No worries, Marky, and I do take your point. However, that is in the past.

I've got less than a year to go on the top-up part fixed rate now. And with Nationwide's short term fixed rates not being much different from their SVR, I'm leaning towards the SVR for this period and then look elsewhere in a year's time. Or do you think I should still fix again now (as it is two thirds of the whole loan) and go onto the SVR for the extra bit in a year's time until this potential new fix expires ?

MarkyMarkD

I would personally go for the SVR option now, because you are then free to choose properly in the shortest possible time. And at that point, you can get out of your mixed end-date problem.

pingu

always_skint wrote: »

Pingu, is your deal with Nationwide? I am an existing customer and have not been offered this!

yes iam

my current deal ends this month they wrote me about 3 months ago to make an appointment

i had seen this deal around that time(on the net) also there was a leaflet in my bank statement(it was for existing customers for being loyal)

when i went to see the advisor she said it had finished but she checked it just in case and it was available:beer:

and if you have 10 or less years left you don't any redemption fees with nationwide

so i have no fees of any kind to pay:money:

just to add my mortgage is only small and only borrowing about 23% of the value!

ashcarrot

Also with the SVR you can overpay as much as you want.

hugglette

god, good luck. I have had it up to here with nationwide

we also finish end of may. i called them beginning of march to make an appt. the 1st saturday they could offer was 12/04!!! at this point the 5 year was 5.63

so i was quite happy with that UNTIL they hiked everything the other week by .2!! I called and said that I was not very happy at all as it was not my fault etc etc and they said that I could have done it all over the phone. Cheers then

also unless I do a 5year fix I still have to pay the fee. something that I did not realise (ok maybe I am daft), but I did think that there was some loyalty bonus, esp from a bank that always says they offer the best deals to their exsiting customers and not 'brand new cust only'

anyway we decided that we want to fix for 10 years as we are trying for a baby and wanted some stability. The best deal that I have found is HSBC at 5.67% fixed for 10 years with a fee of 499

gil13

robertjonesuk wrote: »

have a look at woolwich, 5.29 for 3 years or 5.29 for 10 years and i think 5.59 for 5 years.

I could be wrong but I think the Woolwich/Barclays over 10 years is perhaps not quite as flexible as some, I seem to recall it only allowed 5% overpayments during the fix, but could be wrong.

Locoblade

MarkyMarkD wrote: »

!!!!!! here I know you won't appreciate this, but it really wasn't sensible ending up with different fixed end dates when you ported your mortgage.

Was it really too expensive to pay SVR on the top-up portion, rather than ending up in the situation you now have?

Unless the top-up was more than the original mortgage, you are going to end up paying over the odds on a larger amount than if you had done it the other way round.

You must aim to get your whole mortgage back in sync, or you'll have never-ending tie-ins and never be able to leave Nationwide.

Hi All

This post has concerned me. Our main mortgage is with Nationwide and when re-mortgaging about 18 months ago, we borrowed an additional small sum to pay for a small extension on the house with the same 2 year fixed deal.

As we weren't ready at the time to use the money we asked if we needed to take that additional loan on immediately and were told we could take it out at any time within the year of the offer being made. We did eventually take the additional offer about 10 months later (last September), so Im assuming this now means we're in the same boat and will be unable to jump ship from Nationwide in October when the 2 year fix runs out on our main mortgage, because our additional mortgage fixed term runs until Sept 09? :eek:

If so, I take it we have no comeback on Nationwide for failing to actually tell us this would be the case when we asked the question about deferring? :wall:

MarkyMarkD

I'm not sure whether that would be the case, or whether the further loan fixed end date would be the same as the original loan fixed end date.

If it is indeed the case, then it was possibly bad advice to suggest you took the extra amount on the same fixed deal.

The best idea is to ask Nationwide when the fix ends on both parts of your mortgage, and then you'll know. And if they answer the way you fear, it would then be worth complaining that they didn't make it clear at the time and getting them to change the end date of the further loan to match the remainder of the mortgage.

Of course, a lot of this depends what the rate of the fix is compared to what's currently available. It might not be worth throwing away the extra 10 months on the further loan, if the rate is an absolute bargain.