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Rate dropping? How can he know?
vwjo
Posts: 136 Forumite
Our mortgage broker/advisor has told us that the rate on the Nationwide mortgage we were considering - SVR currently 6.74% - is going to drop next month? Can he know this in advance? 
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Comments
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The SVR is normally linked to the base rate and as that dropped this month most SVR will also go down next month as the changes tend to happen at the end of the month.0
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So is he just making a guess, then? Is it even possible that he can know for sure?0
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I spoke to a lady at Nationwide yesterday, discussing what to do when my 2-year fixed ends. She mentioned that they would be dropping their SVR to 6.49% on May 1.0
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They emailed all brokers and told them, or he is mistic meg?0
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BBC news said that the nationwide was one of the banks passing the cut on.0
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Nationwide and other big lenders have said that they'll pass on the entire .25% cut this time.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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This suggests that the Nationwide SVR will drop on 1 May.
http://www.nationwide.co.uk/newproducts/default.htm?source=nationwide&campaign=homepage&execution=mortgages_layout6_slot2_info_110420080
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