fixed rate ends on sep08 what to do now?

pauled5

hi, hope someone can give some advice. My fixed rate runs out at the end of september i owe 69,000 at a rate of 4.94 with nationwide and pay 441 a month people keep saying you should fix again early to get a decent rate but if i leave nationwide now would i have to pay an exit fee? or should i wait and see if it all calms down thanks, paul

homer_j_3

You can start the ball rolling now but that would mean that you would only need to consider lenders who can keep open your offer until after the tie in period.

If you wait until June then you will get a lot more lenders and with you being with the Nationwide, I cannot see them being too uncompetitive for consideration so if you did miss a deal now for example, its not going to be life changing compared to what the NW are likely to offer.

I would seek advice to see if fixed is right for you etc but I wouldnt fall over myself trying to secure something now unless your circumstances have changed or you do not have a lot of equity in your property.

pauled5

thanks for the reply i`ll hang on till around june and see what nationwide has to offer hopefully they will offer a good deal if i am already an existing customer. I just hope they are not too proud to be different. cheers.

sarkin

always best to get a quote from your lender then speak to abroker and ask if they can beat it

UK007BullDog

Nationwide has offers for existing customers, mostly that they waive any fees.

Alternatively you can look round to see who is offering what, but with your medium amount mortgage it might be just better to stay with them.

Only move if the fees, survey, solicitor costs are included or free and the rate has to be super good, and you are better off than staying put on a new Nationwide deal, otherwise its just not worth it. So do your maths carefully.