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Nationwide offering 95% tracker mortgages - £599 fee -

holly100holly100

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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All Comments (87)

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1
    lanzarote
    Link takes you to home insurance
    Andy@XCite
    I wouldn't touch anything from Nationwide because of the appalling rates they offer savers (& loyal long term member savers at that).
    holly100
    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.
    rikmartin
    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
    AD959
    Andy@XCite
    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 :?
    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 :(
    Andy@XCite
    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.
    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.
    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 ).
    sarahgt
    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!!!
    csiman
    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:
    zAndy1
    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
    csiman
    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
    p19uk
    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)
    dale86uk
    More to life than having houses and money :) nerr nerrrr
    csiman
    dale86uk;5464288
    More to life than having houses and money :) nerr nerrrr

    yeah, but they help :thumbsup:
    dale86uk
    so does having a way with words and a certain je ne sais quoi ;)
    toonarmani
    personally I'd avoid a tracker mortgage as the interest rates are only going to go one way - UP!

    :thumbsup:
    csiman
    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?

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