£100 cashback for existing mortgage members @nationwide
325°

£100 cashback for existing mortgage members @nationwide

27
Expires on 31/12/2017Found 25th Nov
Had a surprise £100 from nationwide after switching to cheaper mortgage deal before interest rate increase. Double win for me

Incentives:

£100 cashback for existing mortgage members

£500 cashback for remortgagers

£500 for First Time Buyers

27 Comments

I got the same for fixing my mortgage with them, they said I would get payment at the end of December

Had the same thing... my mortgage is spit into two parts so I got £200..

Got 250 back in march. I didnt know so it was a bonus really

Anyone know when this started as switched account a few months ago

My fixed deal with them ended in October.. & I renewed on a better rate with them.. does this mean I qualify?!

Just switched last week. Am i eligible? Is there anything on the website with the t's & c's?

Buckar0013 m ago

Anyone know when this started as switched account a few months ago


Ahh just found on website from April 5th 2017

Original Poster

kevinmc6661 h, 39 m ago

Just switched last week. Am i eligible? Is there anything on the website …Just switched last week. Am i eligible? Is there anything on the website with the t's & c's?


You should. Tbh I didn't even know.

Nationwide giving away money from us poor savers again!

I only took my tracker out in July, made 4 payments and noticed a cheaper tracker deal meaning with the bank of England 0.25% rate rise my mortgage would only rise by £1.09 rather than £2.73 by switching to the new tracker. (i Only have a small mortgage and wasn't borrowing more)

Ditched the old tracker for the new to start 01.12.17, the date the rise was due to kick in with the BoE rate rise. All done online in minutes and as OP states £100 cash back due.

For me this will be £700 cash back from them in 5 months. £500 for taking out the mortgage, £100 for switching my account to them via refer a friend and now £100 for switching my mortgage again.

Well worth it and the service in my local branch is fantastic.
Edited by: "cheekyweegit" 25th Nov

for those of you remortgaging even thgouh you're already with NW, aren't you payin £999 quid in product fees to get this £100 cashback?
Edited by: "chamelion" 25th Nov

chamelion1 h, 13 m ago

for those of you remortgaging even thgouh you're already with NW, aren't …for those of you remortgaging even thgouh you're already with NW, aren't you payin £999 quid in product fees to get this £100 cashback?



Nope, no fees with my old or new trackers.

cheekyweegit12 m ago

Nope, no fees with my old or new trackers.


Were you at term?

Yet they couldn't afford the 0.5% on my CC! Pfft

chamelion5 h, 11 m ago

Were you at term?

Oh god no, I was only 4 months into my first ever mortgage when I did it. I went into the local branch first to check it was ok to do it with only having the mortgage a short length of time.

They said no problem as I was on a tracker already which I could switch products at any time and I wasn't borrowing any more.

Process online was simple and it calculated the redemption figure needed for starting the new one. Hopefully this makes sense.
Edited by: "cheekyweegit" 25th Nov

cheekyweegit1 h, 3 m ago

Oh god no, I was only 4 months into my first ever mortgage when I did it. …Oh god no, I was only 4 months into my first ever mortgage when I did it. I went into the local branch first to check it was ok to do it with only having the mortgage a short length of time.They said no problem as I was on a tracker already which I could switch products at any time and I wasn't borrowing any more.Process online was simple and it calculated the redemption figure needed for starting the new one. Hopefully this makes sense.


Mind if I ask how you did it online?

I just called them this afternoon, they said to get the 1.29% fixed rate I'd need to pay a product fee. They didn't even ask for my account details. Said even though im with NW and I want to switch to a new product they'll charge the fee and add it to the mortgage.

You absolutely sure they haven't added the grand product fee to your balance? That's what he said they'd do, and then credit the £100.

OK - confirmed at this end, there's no doubt a product fee with what I want to switch to. Mind if I ask what product you changed from / to? I can see some no fee options but at the 1.69% rate, not at the 1.29% rate that I want!

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chamelion1 h, 23 m ago

OK - confirmed at this end, there's no doubt a product fee with what I …OK - confirmed at this end, there's no doubt a product fee with what I want to switch to. Mind if I ask what product you changed from / to? I can see some no fee options but at the 1.69% rate, not at the 1.29% rate that I want![Image] [Image]



I did the 2 year tracker at 1.14% plus base rate = 1.69% and there was no fee associated with that one for me. It was not worth it for me to take a product with a fee as my mortgage is so low.

I believe your mortgage needs to be £100k plus for it to be worthwhile paying a fee to get the lower rate.

My previous rate was 1.34% plus the base rate so currently 1.59% but going up to 1.84% on 1st December if I did not change it. By changing it, it's still a rise, but only by 0.10% so instead of my mortgage going up by £2.73 a month it's still going up but by £1.09 with the product change. This is negated by the £100 cash back I'll receive so I'll still be quids in so to speak.

What they did do when I remortgaged, as I had been over paying they have used the over payment pot to reduce the payments on the re-mortgage but kept the term the same. This has effectively wiped out my repayment post safety reserve so to speak, so bare this in mind when doing it.

It's not a problem for me with the lower payments, I'll carry on paying the same as I was before, but the difference will go into the over payment reserve fund if I need it. I just won't have such a large one, but it won't take long to build up again especially with them reducing the mortgage payments.

For example I was paying £450 before but with over payments I was actually paying £650.

Now the new payments are £250 but I will carry on paying £650 so effectively an over payment of £400 which although this comes off your balance, if you need to take a payment holiday for what ever reason you can use your over payment reserve fund.

Note with the mortgages I've take out, you can't borrow the reserve fund back again for your own needs such as home improvements, i.e. new kitchen, bathroom, extension etc.

Hope this helps, any more questions just ask.

I'm just going for a first mortgage with nationwide. 5year fixed
At 1.99%, £500 cashback, no fees, free property valuation.

It's on £62,500 mortgage for 25 years.

Quite happy with that, I think.
Edited by: "timmyboy147" 27th Nov

Original Poster

timmyboy1477 h, 12 m ago

I'm just going for a first mortgage with nationwide. 5year fixedAt 1.99%, …I'm just going for a first mortgage with nationwide. 5year fixedAt 1.99%, £500 cashback, no fees, free property valuation.It's on £62,500 mortgage for 25 years.Quite happy with that, I think.


That's fantastic deal.

timmyboy14727th Nov

I'm just going for a first mortgage with nationwide. 5year fixedAt 1.99%, …I'm just going for a first mortgage with nationwide. 5year fixedAt 1.99%, £500 cashback, no fees, free property valuation.It's on £62,500 mortgage for 25 years.Quite happy with that, I think.


Where did you find this deal please? I can only see with fees on their site.

Through a broker but I would ring them?

I paid £299 for broker to get that deal but i think just ring them there is a good chance it's still active and don't need to go through a broker

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dimon727th Dec

Where did you find this deal please? I can only see with fees on their …Where did you find this deal please? I can only see with fees on their site.


Any luck with the deal?

timmyboy1477 h, 9 m ago

Any luck with the deal?


Tim, thanks a lot! Managed to get that deal from NW directly by applying online yesterday. DIP approved, waiting valuation appointment. How long did NW to book a valuation for you from getting a descission?

dimon721 h, 58 m ago

Tim, thanks a lot! Managed to get that deal from NW directly by applying …Tim, thanks a lot! Managed to get that deal from NW directly by applying online yesterday. DIP approved, waiting valuation appointment. How long did NW to book a valuation for you from getting a descission?



Your welcome buddy. Erm about a week, NW just subcontract it to the valuer.

What type of property are you buying? How much deposit/total amount borrowed etc.

That's fabulous you got the deal, I have benefitted greatly from this site over the years so it's nice to give something back.
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