Nationwide offering 95% tracker mortgages - £599 fee - - HotUKDeals
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Nationwide offering 95% tracker morgages

Nationwide announced today it is expanding its mortgage range for customers with only a 5 per cent deposit.

The group is launching new two and three-year tracker and fixed rate deals for existing customers who are coming to the end of their mortgage deal or who are already on its base mortgage rate.

The new range includes a two-year tracker for people borrowing up to £150,000 who pay a £599 reservation fee of 2.99per cent, with the rate capped at 3.99per cent if the Bank of England base rate increases during the term of the deal.
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#1
Link takes you to home insurance
#2
I wouldn't touch anything from Nationwide because of the appalling rates they offer savers (& loyal long term member savers at that).
#4
This is great news for first time buyers and people who don't have much in savings. I certainly wouldn't have been able to afford my first house without the 95% mortgage.
#5
Al_Jolson
This is great news for first time buyers and people who don't have much in savings. I certainly wouldn't have been able to afford my first house without the 95% mortgage.


This deal is for existing customer who already have a mortgage with Nationwide so First time borrowers won't benefit at all
#6
[email protected]
I wouldn't touch anything from Nationwide because of the appalling rates they offer savers (& loyal long term member savers at that).

A penny saved is a penny earned :thumbsup:
Why don't you move your money to get a better rate elsewhere :?
#7
Bring on the moaners about how we're only just coming out of a recession and they're already trying to put us back in... lessons not learnt... etc etc....

p.s. Voted hot as it seems like a good deal. Shame I've still got 2 years left of my 5 year fixed rate :(
#8
AD959
A penny saved is a penny earned :thumbsup:
Why don't you move your money to get a better rate elsewhere :?


I did do. But it was an ISA (apparently a members reward one but God knows where the reward was) so it is more hassle.
Now get ten times more interest at Natwest although that is a 12 month deal which runs out soon and then I will only get five times more interest.
#9
think carefully!
this sounds like financial suicide!
the rates will go up and you will be left with a 95% morgage on a property that is going to be worth much less very soon
this kind of deals is what has left us in a mess... well not us bcos we didn't do it. Hopefully not you either.
#10
mortages are for the silly - you'd do better to invest your money and then pay cash for a house in 10 years ( assuming you're half decent at investing ).
#11
garethyoung
mortages are for the silly - you'd do better to invest your money and then pay cash for a house in 10 years ( assuming you're half decent at investing ).


Of course - 250K investment profit is well acheivable these days!!! Gordon Gecko lives...

and where do you live in the meantime? a rented place where youre throwing money away each month or with mummy and daddy? :whistling:

Like alot of people my mortgage is running at less than 1% and probably will be low for some time yet - how can that be silly!!!
banned#12
garethyoung;5463891
mortages are for the silly - you'd do better to invest your money and then pay cash for a house in 10 years ( assuming you're half decent at investing ).

lol - ignorance is bliss I suppose.

I have bought 3 houses in the last 20 years and total mortgages borrowed come to £145,000

current house valuation is £450,000-£500,000

Oh, how I wish I'd been saving those last 20 years and having to sponge off the bank of mum & dad!

I'd probably have about £100K by now using your tactics so that would get me a nice little studio flat :whistling:
#13
If lenders start offering 95% mortgages again it's a pretty sure sign that they're confident house prices have pretty much bottomed out. It's fantastic news for first time buyers. Voted hot
banned#14
cleverino;5463637
think carefully!
this sounds like financial suicide!
the rates will go up and you will be left with a 95% morgage on a property that is going to be worth much less very soon
this kind of deals is what has left us in a mess... well not us bcos we didn't do it. Hopefully not you either.

Pray tell where I can get one of your crystal balls oh font of all wisdom :p
#15
cleverino
think carefully!
this sounds like financial suicide!
the rates will go up and you will be left with a 95% morgage on a property that is going to be worth much less very soon
this kind of deals is what has left us in a mess... well not us bcos we didn't do it. Hopefully not you either.


much less very soon??? doh! plus if it is a repayment mortgage it won't be a 95% mortgage after two years anyway!

I haven't voted this either way since nationwides standard variable rate is currently 2.5%... as this deal is a tracker it will still go up by the same amount as the sv rate.

The only benefit this deal has over the SV rate is the cap at 3.99% and I (personally) doubt we will see interest rates that high inside 18 months... so is 6 months worth of cover given by the cap worth more than the extra interest you will be charged for the first 18 months of the deal? (i haven't done the maths, hence me not voting either way)
#16
More to life than having houses and money :) nerr nerrrr
banned#17
dale86uk;5464288
More to life than having houses and money :) nerr nerrrr

yeah, but they help :thumbsup:
#18
so does having a way with words and a certain je ne sais quoi ;)
#19
personally I'd avoid a tracker mortgage as the interest rates are only going to go one way - UP!

:thumbsup:
banned#20
toonarmani;5464400
personally I'd avoid a tracker mortgage as the interest rates are only going to go one way - UP!

:thumbsup:

thats stating the bleedin obvious init lol :-D

base rate is 0.5% is it not?
#21
i can only speak from personal experience - since november i've managed to increase my initial investment 20 fold on the stock market - thanks mainly to lloyds share price tripling and barclays doing so sixfold.
maybe i'm lucky but i'm glad i chose the path i did.
#22
csiman
thats stating the bleedin obvious init lol :-D

base rate is 0.5% is it not?


exactly - so a tracker deal is cold IMHO.

I'm happily sitting half way through my 10 year fixed rate mortgage :whistling:
#23
well done gareth young
#24
From the BBC News Site

"Nationwide Building Society is reported to be increasing the cost of its fixed-rate deals on Friday, by up to 0.86 percentage points.

A 0.86 percentage point rate increase on a £150,000 interest-only mortgage will increase the total cost over five years by £6,450.

'Less to lend'

Part of the reason for some analysts suggesting that other lenders were likely to follow suit was the sharp increase in swap rates - the amount banks charge each other for borrowing and lending money over a fixed period of time. "
banned#25
toonarmani;5464713
exactly - so a tracker deal is cold IMHO.

I'm happily sitting half way through my 10 year fixed rate mortgage :whistling:

and what rate is your 10 year fix?
banned#26
dale86uk;5464718
well done gareth young

DFTT!
#27
garethyoung
i can only speak from personal experience - since november i've managed to increase my initial investment 20 fold on the stock market - thanks mainly to lloyds share price tripling and barclays doing so sixfold.
maybe i'm lucky but i'm glad i chose the path i did.


i smell cat.... no wait, dog.... no, definitely bull!
#28
p19uk
i smell cat.... no wait, dog.... no, definitely bull!


LOL!!!!!!!!!!!!!
#29
p19uk
i smell cat.... no wait, dog.... no, definitely bull!


haha so true
why the funk would a successful investor brag on HUKD
LOOOOL dream on
#30
garethyoung
i can only speak from personal experience - since november i've managed to increase my initial investment 20 fold on the stock market - thanks mainly to lloyds share price tripling and barclays doing so sixfold.
maybe i'm lucky but i'm glad i chose the path i did.


You invested on the stock market when share prices were at rock bottom..but you couldn't have been certain it wouldn't have dropped further. You took a huge gamble and fortunately for you it paid off this time.

You are extremely naive if you think that your chosen path is a painless and fool proof investment.
#31
[email protected]
I wouldn't touch anything from Nationwide because of the appalling rates they offer savers (& loyal long term member savers at that).


Come to Skipton Building Society, we will treat you better, everyone gets a cup of tea in My branch and the people love it!

Seriously though, i work in a new branch and nearly all of my customers have moved from nationwide....who my boyfriend works for :D
#32
the daily mail link says that it is capped at 3.99 should rates increase over the 2 years.
#33
I took Nationwide to Court a few years back - and won very very easily.
Voted cold due to my experience of them.
Vile, disgusting, unprofessional company
#34
davesherman
Bring on the moaners about how we're only just coming out of a recession and they're already trying to put us back in... lessons not learnt... etc etc....

p.s. Voted hot as it seems like a good deal. Shame I've still got 2 years left of my 5 year fixed rate :(



Did you just say we are coming out of the recession?!

I think you need to look further than the spin headlines, and have a look at the fundamental economic factors, and you will see things are getting worse every month.
Once you see the economy for what is really is, you will start to laugh at the silly things they broadcast on the news.

I wish things would suddenly get better because recessions are no fun, but dont kid yourself!
#35
p19uk
i smell cat.... no wait, dog.... no, definitely bull!


Why ?

I invested £14500 in Barclays at 66.6p only a few months back.
I'll leave it to you to grab a calculator and do the maths.
And then there's RBS, Lloyds, Taylor Wimpy and several others ...

In the mean time, enjoy your day at work tomorrow - and think of me earning my crust doing no more than doing a bit of reading and a few mouse clicks.

Maybe the real "hot deals" aren't always to be found here :whistling:
#36
csiman
lol - ignorance is bliss I suppose.

I have bought 3 houses in the last 20 years and total mortgages borrowed come to £145,000

current house valuation is £450,000-£500,000

Oh, how I wish I'd been saving those last 20 years and having to sponge off the bank of mum & dad!

I'd probably have about £100K by now using your tactics so that would get me a nice little studio flat :whistling:



Well done, you made money is the biggest property bubble in history, but please don't misinterpret your paper wealth for an ability to give investment advice!


If you plan to take a large mortgage, either do it within the next 6 months, or wait about 3-5 years. Interest rate will start to climb soon (< 6 months), so get a long fixed rate (5 years +). The problem is in 5 years the base rate may be in double figures, so make sure you overpay as much as possible.
If you decide to wait, the further falls in property prices with compensate for the increase in interest rates.
#37
gizmouk
Why ?

I invested £14500 in Barclays at 66.6p only a few months back.
I'll leave it to you to grab a calculator and do the maths.
And then there's RBS, Lloyds, Taylor Wimpy and several others ...

In the mean time, enjoy your day at work tomorrow - and think of me earning my crust doing no more than doing a bit of reading and a few mouse clicks.

Maybe the real "hot deals" aren't always to be found here :whistling:


Brave man!
I didn't have the balls to do it tbh! I was stocking up on supplies while the worlds economy was imploding!
#38
p19uk
much less very soon??? doh! plus if it is a repayment mortgage it won't be a 95% mortgage after two years anyway!



Assuming rates don't go up in the next 2 years (which they will!) then someone with a £100k house bought with a 95% mortgage will owe £90k.

p19uk

I haven't voted this either way since nationwides standard variable rate is currently 2.5%... as this deal is a tracker it will still go up by the same amount as the sv rate.

The only benefit this deal has over the SV rate is the cap at 3.99% and I (personally) doubt we will see interest rates that high inside 18 months... so is 6 months worth of cover given by the cap worth more than the extra interest you will be charged for the first 18 months of the deal? (i haven't done the maths, hence me not voting either way)


For the cap to be hit the base rate will need to be 3%. I can definately see this happening in the next 18 months and the amount owed above will be more than 90k. Then what happens? Stick with the SVR that is 2.49% above the base rate or a fixed rate that is unlikely to be as good as we've seen over the past 5 years because or the high chance of the base rate hitting 7% or more.
#39
:roll: Are you boys going to get your willies out and have a real fight?
#40
gizmouk
Why ?

I invested £14500 in Barclays at 66.6p only a few months back.
I'll leave it to you to grab a calculator and do the maths.
And then there's RBS, Lloyds, Taylor Wimpy and several others ...

In the mean time, enjoy your day at work tomorrow - and think of me earning my crust doing no more than doing a bit of reading and a few mouse clicks.

Maybe the real "hot deals" aren't always to be found here :whistling:


well done for investing at the right time. You gambled and it paid off.

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