Nationwide offering 95% tracker mortgages - £599 fee -
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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http://www.dailymail.co.uk/news/article-1191589/Return-95-mortgage-Nationwide-offers-deal-customers-5-deposit.html
This deal is for existing customer who already have a mortgage with Nationwide so First time borrowers won't benefit at all
A penny saved is a penny earned :thumbsup:
Why don't you move your money to get a better rate elsewhere :?
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 :(
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.
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.
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!!!
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:
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
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)
yeah, but they help :thumbsup:
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thats stating the bleedin obvious init lol :-D
base rate is 0.5% is it not?