Nationwide 10yr fix 2.84% from 21st Jan
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Nationwide 10yr fix 2.84% from 21st Jan

36
Found 20th Jan 2015
For those looking at the 10yr fix with Nationwide, I would hold fire until tomorrow as the rate is dropping further to 2.84% see the link in the financial press:
financialreporter.co.uk/mor…tml

36 Comments

Already posted

corgi74

Already posted



No, this deal is a reduced rate (reduced by 0.1%) being offered from tomorrow.

Does it work for remortgage for First buy scheme as well?

twentyfourintoseven

Does it work for remortgage for First buy scheme as well?


If your on a fixed rate already with nationwide you will have to wait till the end of your deal or pay the redemption fee on the rest of your mortgage. Anybody on tracker or variable can remortgage to this deal. I've got 2 1/2 years left on my fixed and was quoted £5000 to change to the 10 year fixed:-(

marathonic

Looks like they're being reduced by a further 0.1% fromt tomorrow so hold … Looks like they're being reduced by a further 0.1% fromt tomorrow so hold off for now...Reduced Rates from Wednesday 21st January

how do you know that

Nice one OP. Also confirmed on Nationwide's website but only for existing customers.

they are to reduce most of there other mortgages also.

checked this on Google says best 10 year deal on the market

Could I get this if I open a current account or do I need a mortgage with them already?

wats the loan to value on this?

60% max

Is this only for existing mortgage customers?

10yrs? someone knows interest rates won't be going up for a while then.

matthew1888

Is this only for existing mortgage customers?




New customers deal

hotukdeals.com/dea…059

It's quite amazing to see a 10 year fixed rate mortgage at a lower interest rate than Santander's 123 current account pays (before tax)!

I believe existing Nationwide customers can sign up to one of these deals three months before their existing fixed rate product ends. If you make overpayments consider a shorter fix at a lower interest rate, especially if your LTV ratio may drop due to those overpayments.

Wow!!!!!
I'm just gutted I fixed mine with Nationwide only last month. I fixed for 5 years at 3.5% but my LTV is more around 73%
This deal is smoking hot if you can qualify.

corgi74

Already posted


have you been to specsavers?

Think I have a nationwide account, don't think I have used in years, may be £2 balance, will see if this allows me to get this deal!, LTV, best get a valuation and see where I am!

These rates keep dropping. Wonder if it will get down to 2.5% might be worth me paying the redemption amount then.

nick1981

Wow!!!!!I'm just gutted I fixed mine with Nationwide only last month. I … Wow!!!!!I'm just gutted I fixed mine with Nationwide only last month. I fixed for 5 years at 3.5% but my LTV is more around 73%This deal is smoking hot if you can qualify.



So unless you have a million quid mortgage, you would probably have been better to borrow some money for "a car" or "cars" at around 6% (for amounts of £25,000 or £35,000) and reduce your LTV to 60% and pick up a better deal.

3.1415926

So unless you have a million quid mortgage, you would probably have been … So unless you have a million quid mortgage, you would probably have been better to borrow some money for "a car" or "cars" at around 6% (for amounts of £25,000 or £35,000) and reduce your LTV to 60% and pick up a better deal.


Fine if the banks are still so stupid as to completed ignore existing debt in its consideration of what to lend - please let us know who these banks are, I fancy a new Porsche.

This is a great deal. Hot. Im on the vairable rate at 2.5%, not sure whether to go for this

is this local or nationwide?

deal of the decade
grab it with both hands.

best 10 year deal on the market.

montana78

10yrs? someone knows interest rates won't be going up for a while then.



exactly my thoughts last night

dee4kev

exactly my thoughts last night



The banks negative, and low margin, tracker mortgages from the last decade prove that the banks are no better able to predict interest rate movements than anyone with a reasonably strong understanding of finance and economics.

dee4kev

exactly my thoughts last night



All rates offered now are no indication of future rates, as current debt will be hedged vs future rates. All mortgages, regardless of the tenor are only indicators of a current state, so as it stands they still make a decent return vs the BoEs .5%

What works out better

2.84% + £999 fee

2.94% no fee?

sprite127594

What works out better2.84% + £999 fee2.94% no fee?



Depends on how much you are looking to refinance and current monthly repayments.

sprite127594

What works out better2.84% + £999 fee2.94% no fee?



There are comparative AER figures on the Nationwide website.

I think when I looked yesterday the comparative rate for the no-fee-but-higher-rate option worked out as being marginally cheaper overall based on our balance and term left.

I'm giving serious thought to taking this deal, and don't have a grand readily accessible to pay the fee, so I'm leaning more towards taking the fee-free option and paying the slightly higher rate rather than adding it to the mortgage balance and paying interest on it for the next 14 years....


Edited by: "LurkingLawyer" 21st Jan 2015

im only seeing 3.39/3.49% when i put my details in

EDIT looks like you have to be under 60%LTV
Edited by: "sprite127594" 21st Jan 2015

sprite127594

im only seeing 3.39/3.49% when i put my details in



Do you have at least 60% LTV? It sounds like you may not fit the qualification criteria.

LurkingLawyer

Do you have at least 60% LTV? It sounds like you may not fit the … Do you have at least 60% LTV? It sounds like you may not fit the qualification criteria.



Ive got 67%

If the difference between the fee and no fee is £8.33 the it's worth taking the fee option. Since £8.33 per month * 12 months * 10 years =£999.60

I should have said if the the difference is greater than £8.33 then fee. Otherwise take no fee

3.1415926

So unless you have a million quid mortgage, you would probably have been … So unless you have a million quid mortgage, you would probably have been better to borrow some money for "a car" or "cars" at around 6% (for amounts of £25,000 or £35,000) and reduce your LTV to 60% and pick up a better deal.



But the monthly cost of the loan or loans will have an affect the amount you are able to borrow ?
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