Unfortunately, this deal is no longer available
2 years fixed mortgage 1.19% with £999 product fee 60% LTV existing customers @ Nationwide
576° Expired

2 years fixed mortgage 1.19% with £999 product fee 60% LTV existing customers @ Nationwide

30
Posted 18th May

This deal is expired. Here are some options that might interest you:

Only available to those already with Nationwide and remortgaging. 60% LTV

May be of use to some like me who's deal is coming to an end and not wanting a longer fix.
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Is it wrong to think nah, those adverts are just so damn annoying I wouldn’t bother.
I'm not sure a 2 year fix is a good idea right now. With all the uncertainty a longer fix would make more sense
Haha £999 fee,where the hell do I sign!!!!!!
30 Comments
Haha £999 fee,where the hell do I sign!!!!!!
chridt18/05/2020 08:10

Haha £999 fee,where the hell do I sign!!!!!!


Pretty standard. Can you find a rate this low with lower fees?
chridt18/05/2020 08:10

Haha £999 fee,where the hell do I sign!!!!!!


Or 1.69% with no product fee. It's depends on mortgage amount what will be better for you
Yea for most over 2 years the lower monthly payment wont cover the £999 initial fee. Worth checking though
Is it wrong to think nah, those adverts are just so damn annoying I wouldn’t bother.
fiffio10118/05/2020 08:35

Is it wrong to think nah, those adverts are just so damn annoying I …Is it wrong to think nah, those adverts are just so damn annoying I wouldn’t bother.



no it's not
I'm not sure a 2 year fix is a good idea right now. With all the uncertainty a longer fix would make more sense
The fee on a two year rate makes all the difference. You can go to 1.44 for no fee and over two years works out cheaper than this.
rmarshall197318/05/2020 08:53

The fee on a two year rate makes all the difference. You can go to 1.44 …The fee on a two year rate makes all the difference. You can go to 1.44 for no fee and over two years works out cheaper than this.


On a £100000 mortgage 1.44 is £30 cheaper than a £100999 mortgage at 1.19 with that £999 fee.
Edited by: "rmarshall1973" 18th May
KentishLad18/05/2020 08:46

I'm not sure a 2 year fix is a good idea right now. With all the …I'm not sure a 2 year fix is a good idea right now. With all the uncertainty a longer fix would make more sense


I’d be looking at 5 even 10 years tbh,The true effect of all this won’t be known in the financial sectors for at least a year and that’s when they will start to look at re-couponing money where they can.
As you say a 2 year deal now could drop you right into the middle of that.
KentishLad18/05/2020 08:46

I'm not sure a 2 year fix is a good idea right now. With all the …I'm not sure a 2 year fix is a good idea right now. With all the uncertainty a longer fix would make more sense


Depends on your circumstances. We are planning to move in a couple of years so a longer fix doesn't make sense for us. If we weren't then yes I would fix for longer.
rmarshall197318/05/2020 08:54

On a £100000 mortgage 1.44 is £30 cheaper than a £100999 mortgage at 1.19 w …On a £100000 mortgage 1.44 is £30 cheaper than a £100999 mortgage at 1.19 with that £999 fee.


Obviously depends on your personal circumstances. Our mortgage is a lot more than £100,000
A 2 year fix is just not worth it... its about as close to certain as it gets that interest rates will still be this low in 2 years time.
Edited by: "honeybags225" 18th May
peddy18/05/2020 08:56

Depends on your circumstances. We are planning to move in a couple of …Depends on your circumstances. We are planning to move in a couple of years so a longer fix doesn't make sense for us. If we weren't then yes I would fix for longer.


You can port many mortgages when you move house so taking a longer mortgage may make sense. Speak to someone about this option though because it has pros and cons.
smk7718/05/2020 09:12

You can port many mortgages when you move house so taking a longer …You can port many mortgages when you move house so taking a longer mortgage may make sense. Speak to someone about this option though because it has pros and cons.


Thanks. I'll look into that
djames10818/05/2020 08:23

Yea for most over 2 years the lower monthly payment wont cover the £999 …Yea for most over 2 years the lower monthly payment wont cover the £999 initial fee. Worth checking though


Divide the fee by the difference between the cheapest rate with no fee and that's the balance your mortgage needs to be to make up the saving in one year. Half the balance because this is a two year deal.
matej_jones18/05/2020 09:31

Divide the fee by the difference between the cheapest rate with no fee and …Divide the fee by the difference between the cheapest rate with no fee and that's the balance your mortgage needs to be to make up the saving in one year. Half the balance because this is a two year deal.


I know thats why i suggested checking first

I dont think fixing for 2 years is an issue as others have advised against....rates aren't going to change any time soon so fixing for 2,5,10 years or staying on variable is all pretty much meh.

If going from your current fixed to variable at the end of your deal is going to cost you less or the same then thats a good option.
Or simply fix in again with your current provider if there doing a decent deal, most lenders are around the 1.5% mark for 60% ltv so at least staying put with a decent deal saves paying fees, and the hassle of valuations, credit checks....bank statements......etc etc etc
I’m paying .99 for trading at the moment. I have 80% ltv which is pretty much high side. And it’s with Barclays
Weird my lads NW mortgage is 1.3 and they gave him £500! How is this a deal!
Mrepg18/05/2020 10:27

Weird my lads NW mortgage is 1.3 and they gave him £500! How is this a …Weird my lads NW mortgage is 1.3 and they gave him £500! How is this a deal!


Got a link to this deal? £500 cashback seems to be either first time buyers or if moving to NW from another provider. Neither of which offer 1.3% right now
peddy18/05/2020 10:32

Got a link to this deal? £500 cashback seems to be either first time …Got a link to this deal? £500 cashback seems to be either first time buyers or if moving to NW from another provider. Neither of which offer 1.3% right now


His mortgage advisor did it, plus charged no fees as he’s a mate. Will ask the details later. He was first time buyer.
rmarshall197318/05/2020 08:53

The fee on a two year rate makes all the difference. You can go to 1.44 …The fee on a two year rate makes all the difference. You can go to 1.44 for no fee and over two years works out cheaper than this.


...depending on your mortgage size
Mrepg18/05/2020 10:34

His mortgage advisor did it, plus charged no fees as he’s a mate. Will ask …His mortgage advisor did it, plus charged no fees as he’s a mate. Will ask the details later. He was first time buyer.


So, not really comparable or applicable to who this deal is for, then?!
I am going to remortgage 80%LTV...2.24% interest..that they offered me for remortgage...
I don’t know much about mortgages but I just purchased my first home, 90% loan, 1.84% interest fixed for 2 years. £999 fee although they are paying me back £500.

Can anyone let me know if this was good for a first one buyer? And what I should do end of the 2 years?
KentishLad18/05/2020 08:46

I'm not sure a 2 year fix is a good idea right now. With all the …I'm not sure a 2 year fix is a good idea right now. With all the uncertainty a longer fix would make more sense


Economy is about to crash and we could be in recession or even depression. I can't see interest rates going up any time soon.
seckinboy18/05/2020 20:17

I don’t know much about mortgages but I just purchased my first home, 90% l …I don’t know much about mortgages but I just purchased my first home, 90% loan, 1.84% interest fixed for 2 years. £999 fee although they are paying me back £500. Can anyone let me know if this was good for a first one buyer? And what I should do end of the 2 years?


Looks like a good deal for 90%

Just be careful not to end up with negative equity
As with a lot of mortgage deals on here you get loads of the fees not worth it without any calculations...

done a wee spreadsheet(just knocked this up so not cross checked the answers yet)

for a given rate and fee the break even rates and amounts for a matrix of values of rate difference and mortgage amount for a range of terms based on the monthly payment of the fix rate with fee which is close enough for this exercise.
for this 1.19% £999 fee 2 year fixed term

(formatting is rubbish can you do tables here?)

Mortgage amount break even rate

Full term £50,000 £100,000 £150,000 £200,000 £300,000
5 2.449% 1.816% 1.606% 1.502% 1.398%
10 2.315% 1.749% 1.562% 1.469% 1.376%
15 2.276% 1.730% 1.549% 1.459% 1.369%
20 2.258% 1.721% 1.543% 1.455% 1.366%
25 2.247% 1.716% 1.540% 1.452% 1.365%
30 2.240% 1.712% 1.538% 1.450% 1.364%

rate difference break even mortgage
0.10% 0.20% 0.30% 0.40% 0.50%
5 £621,402.08 £310,499.14 £206,864.93 £155,047.90 £123,957.75
10 £555,640.58 £277,599.60 £184,919.38 £138,579.35 £110,775.40
15 £536,724.67 £268,135.68 £178,606.13 £133,841.44 £106,982.69
20 £527,756.36 £263,648.61 £175,612.81 £131,594.99 £105,184.37
25 £522,529.74 £261,033.59 £173,868.31 £130,285.76 £104,136.29
30 £519,112.37 £259,323.76 £172,727.67 £129,429.71 £103,451.00

For a nationwide borrower with the no fee fix at 1.69% (+0.5%) the break even is as low as £105k with a term 20 years or longer.
Edited by: "getmore4less" 19th May
This is going down to 1.14% tmrw and the no fee is going down 1.44%
This is now 1.09% with £999 fee and 1.44% with no fee
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