2 year Tracker mortgage 1.99% above base rate = 3.99% @ Nationwide.co.uk - HotUKDeals
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Reservation fee only £299
If the Bank of England Base rate is 1% or less during the tracker period, the rate you pay will be 1% plus the agreed set percentage above the Bank of England base rate. This means that the rate you pay will never go below 1% plus the additional percentage rate of your tracker mortgage. This is known as the tracker floor.

my fixed of nearly 6.5% isnt up until sep09 else i would of gone with this.
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HARRIA01 Avatar
7y, 11m agoFound 7 years, 11 months ago
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banned#1
Good deal. Don't think there's many other offers like this at the mo. Probably won't be around long as economists are predicting that interest rates could fall to 0% next year.
#2
Why do you not buy yourself out of your fixed rate and go for this?


http://www.fsa.gov.uk/tables/
for best rates
#3
Minimum deposit of 40%
#4
And I signed up to a 2 year fixed deal with Nationwide 2 months ago at 6.2%.

NOOOOOOOOOOOOOOOOOOOOOO !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:cry:
#5
But when interest rates rocket in 10 months time .... not so clever.:?
#6
banned#7
mullerman
But when interest rates rocket in 10 months time .... not so clever.:?


What makes you think that will happen. All indications are that rates are going to be low for some time to come. If rates did start to creep up, all you do is jump over to a fixed rate.
#8
el-beatle
What makes you think that will happen. All indications are that rates are going to be low for some time to come. If rates did start to creep up, all you do is jump over to a fixed rate.


The indications are not there to say that rates will be low for some time! Any further decrease will have a significant effect on savers. The cut in rates have had very little effect so far as the banks are reluctant to pass on the cuts especially on new deals as they will end up losing money on them.
Rates have to go up in order to maintain the 'status quo' of the financial market. It is a tad naive to think that rates won't go up. In fact, its almost like saying there will be no more boom and bust, or house prices will never go down . Nine - twelve months until the first interest rate rise I believe which will coincide with a near bottoming out/correction of the housing fall ( aprox 15-22.5% more to go to 2002-2003 prices).
#9
Waterboy8535
And I signed up to a 2 year fixed deal with Nationwide 2 months ago at 6.2%.

NOOOOOOOOOOOOOOOOOOOOOO !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:cry:




I signed up to the 10 year fixed with them at 4.9% in October... did you not get offered that??:?

Fee free too
#10
Great deal :thumbsup:
#11
Not as good as my current tracker, .36% below BofE base rate, currently 1.64%!
#12
A year ago they were offering 0.07% BELOW base rate on up to 85% of valuation.

Still a good deal compared with others' current offerings though!
#13
gdowsett
Not as good as my current tracker, .36% below BofE base rate, currently 1.64%!


Who is that with?
#14
Benjimoron
Who is that with?


Possibly Nationwide? I think they did one at that sort of rate if you paid a fee of about £1k up front. Had to be a pretty big mortgage to make that sort of fee worthwhile.
#15
Be careful and don't choose your mortgage based upon a site like this. The lowest this tracker rate can go is 1% plus the 1.99% or 2.99% absolute minimum. Nationwide standard variable will not vary more than 2% above BoE base rate. Therefore it theoretical lowest rate is 2%. Not sure what the arrangement or cancellation fees are with these mortgages. Be careful out there !!

From Nationwide site.....
Base Mortgage Rate (BMR)
From 1 January 2009 Nationwide will cut its Base Mortgage Rate (BMR) to 4%. Our BMR is already one of the lowest of the high street lenders and this cut maintains that position. Nationwide is holding its guarantee that the BMR will never be more than 2% above the Bank of England base rate. This means that Nationwide will pass on further base rate reductions in full. Nationwide is one of a few lenders to have this type of guarantee in place.
#16
Benjimoron
Who is that with?


Sounds like Halifax. AFAIK it was only a two year discount with a hefty arrangement fee. At the end of the two year period it reverts to the Standard Variable Rate - ouch!

Rufus.
#17
bank with the nationwide and recently went for mortgage with them, should have been simple process as I not buying, vendor not selling plus I putting down serious deposit, yet there has been a delay of 6 weeks because they cant get their act together...looking at formal complaint now as their staff are completely incompetent.....bit like their advert where they take p*ss out of other banks but in this case its their staff who are the problem........good deal if you can get it further than there staff....only positive I can say is that the cock ups they done has meant I've been able to get three lower rates to date as not completed...and hoping for another now as they still cannot get their act together. Just a shame as I should have been in over a month ago :(
#18
Benjimoron;3674952
Who is that with?

Natwest
#19
gdowsett
Natwest


Nice one. Looks like they don't have a collar either so you should get a good price for a while. I assume it's only a 2 year deal or something?
#20
HSBC currently are offering 1.64% over base giving current rate of 3.64%
It's a lifetime tracker but has £799 arrangement fee

http://www.hsbc.co.uk/1/2/personal/mortgages/remortgage/tracker-rate

It was recently 0.99% above base - this is not really the time to take this type of deal
#21
I don't think this is such a good deal.
My mortgage is at 0.49% above base rate.
Interest rates are going to remain very low for at least a year.
I'd never deal with Nationwide again.
They are the worst financial company I've ever dealt with.
The phrase "you don't know what you're doing" comes to mind...
#22
Sounds like a good deal, who's it with?
#23
First Direct have a base rate tracker 1.69% above base.
And its an offset mortgage! :thumbsup:
#24
Benjimoron;3676661
Nice one. Looks like they don't have a collar either so you should get a good price for a while. I assume it's only a 2 year deal or something?

2 yr deal, currently paying £500 less than when i took it out. I'll be hunting a fix deal when it finishes.
#25
gdowsett
2 yr deal, currently paying £500 less than when i took it out. I'll be hunting a fix deal when it finishes.


Good luck in getting a good fixed rate, rates won't stay low for long so I doubt any lenders will be bending over backwards to entice people to cheap fixed rates.
#26
BTW This deal obviously sounds good, but remember that rates will go up again at some point and you'll be paying over the odds then.
banned#27
mullerman;3673740
But when interest rates rocket in 10 months time .... not so clever.:?

Where do people get all these accurate crystal balls from then? :whistling:
banned#28
currently on a nationwide tracker at 2.24% and just got a further advance for £42K. Looks good on paper when I put it in my tesco 5.1% savings account.

£100 up on the deal each month :)
#29
have a look at this http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5430130.ece looks like it will get no lower than 3.99
#30
:thumbsup::whistling:
davilown
The indications are not there to say that rates will be low for some time! Any further decrease will have a significant effect on savers. The cut in rates have had very little effect so far as the banks are reluctant to pass on the cuts especially on new deals as they will end up losing money on them.
Rates have to go up in order to maintain the 'status quo' of the financial market. It is a tad naive to think that rates won't go up. In fact, its almost like saying there will be no more boom and bust, or house prices will never go down . Nine - twelve months until the first interest rate rise I believe which will coincide with a near bottoming out/correction of the housing fall ( aprox 15-22.5% more to go to 2002-2003 prices).

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