Why is this cold? What am I not understanding. 2.5% rate is ok for money you want to put towards a house isn't it?
The only thing that truly baffles me is that people on benefits would get penalised for having these types of products. The DWP penalises benefits claimants for having any more than 6k in savings. No wonder the benefits trap exists.
I don't think anyone has said the T&Cs stipulate that. There's a comment saying you need to buy a first time property to qualify for the bonus, and my comment saying that the terms state you need to be an "Eligible Customer" from the H2B scheme rules to open it, but nothing that says you need to open it only for the purpose of buying a 1st time property.
My understanding is that this document refers to claiming the government bonus when purchasing an eligible 1st time property and not to open an account. That's because it specifically asks for an address and purchase price of the acquired property (which would be irrelevant when you merely open an account with the intention to buy a property several years down the line) and the -existing- H2B ISA account number. And further down it says "I have operated my Help to Buy: ISA in accordance with the terms and conditions" which also openly implies that you have already a H2B ISA. Now, someone else commented that the bank's T&Cs stipulate that you have to open this type of account with the only purpose of buying a 1st time property and thus just opening one for general savings instead (as LISAs expressly allow you to do) isn't allowed. That's debatable in my opinion, but it's even more questionable how enforceable -by a bank- such a term can be anyway.
2.57% with Barclays
Posted 5th Nov 2018Posted 5th Nov 2018
5% in FlexDirect Current (balance upto £2500) & 5% in Flex Regular Online Saver account at Nationwide **Pls do not offer referrals*
Just read this in Metro newspaper that Nationwide offering 5% in current ( balance upto £2500 ) as well 5% in Saving account ( Flex regular online saver ) - you need to save £250 … Read more
Guess this is for new customers only. Not mentioned.
I've had this account previously and closed it is February this year. How long do you need to wait to be able to sign up again and get the 5% again ? Thanks
This comment is reply to a @Yesgo question, in the comment immediately above. For some reason the mods reviewed it, and in doing so, it is no longer showing as a response to a question by him. It is NOT about this post for a 'Flex Regular Saver' account. This is the 'Future Saver Account' we are talking about, that I posted.Not the 'Flex Regular Saver' that this post is about. I am pretty certain that you can add 5k per year. I was told that when I opened mine, and that the interest is paid on the whole amount, calculated each day on the total balance. The interest rate is variable, so can change depending on the B of E rates. On their site it states... Save: up to £5,000 per account year. I suggest you give them a call. for further information on it.
Just saw this account on the website. If you roll into the second year and deposit a further 5k to bring total up to say 10k, the 3.5% still only applies up to 5k I think but couldn’t find anything on the t&c to confirm. Any ideas?
It will be £100 each, as it was last year (no problem) but last month?, it took 3 weeks, and 1 screw-up after another... Mega grief, and the credit could (so I was told today) take 30 days to hit our accounts. It even resulted in a tesco home delivery being cancelled, even when the order was ON the van, out for delivery (fierce)
Posted 25th MarPosted 25th Mar
2-5 Year Fixed Green Mortgage Additional Borrowing (£5k to £25k) 85% LTV - 0.75% - No product fee - existing mortgage customers @ Nationwide
From today, Nationwide have cut their rates on additional green borrowing for existing Nationwide mortgage customers. You can borrow between £5,000 - £25,000 at a rate of 0.75% … Read more
If you can get £25k at an interest rate of 0.75%, it will help reduce your monthly payments, for sure. You can use the calculator at the top of this page, to calculate the reduction in your monthly payments.
Anyone progressing with this? We are planning a renovation of our property in the next few months. We have the funds available but I'm wondering whether it makes sense to take this loan at the max 25k and then just pay that back to our mortgage (taking into consideration the 10% overpayment limit). We are a couple of years into a 25 year mortgage at 1.94% (3 years left on the fix). Can't seem to figure out whether this is worthwhile and how much it could save us. Are there any good online calculators for this sort of thing? Thanks
Two excellent tools to use for comparison of mortgage deals. First use this one and see your best buys. moneysavingexpert.com/mortgages/best-buys/ Then ask any broker to best these if they can. Second tool is to compare your shortlisted deals, it compares only two deals, but mathematically most accurately. So use for final decision. moneysavingexpert.com/mortgages/compare-fixed-rate-mortgages/
My current mortgage deal is due to end on the 31st of August. When can i apply for this? ive just tried and its telling me i cant change yet due to charges. Thanks
Yes you will be able to switch bank but your Early Repayment Charge end date will be on your mortgage paperwork. There’s too much unknown to work out what your costs would be without you telling 1)How long was your mortgage and 2) do you track how much capital has been paid off?
Hello all, quick question, my first 5 years mortgage is finishing June 2021, 200,000 house, 40,000 deposit, so borrowed 160,000. 760 per month repayments, unsure of % off top of my head. With Halifax. What happens now, what are my options? Can i change bank, with a lower interest rate and make the payments lower than 760? Massive thanks to any responses!
Thanks. Will do same.
As an existing customer, I was asked for no further documentation. Effortless.
London isn't the centre of the world and hasn't been for a long time. Only the people living in London think that. Also even if it was Brexit would have changed that overnight. As for the currency it's only strong based on GDP. That GDP is going to be weakened coming over the next few decades. We are number 5 but we will be number 10 in a decades time. Other countries are far larger, have much bigger populations and are growing well. As an example India is currently number 7, two places behind they will overtake the UK within 5 years. Their economy is growing at a fast rate. The UK economy hasn't been growing as it should for nearly 2 decades now. The Tory government also has put the biggest debt the country has ever seen on the books. To think that isn't an issue is ignorant at best. The average median wage in a country like this with the fifth highest GDP in the world should be £40k however it's circa £25k. That discrepancy shows that the gap between the rich and poor is widening and has been for 2 decades. If your earning £50k+ a year then you will likely be fine for this generation at least. However anyone earning less only has misery to look forward to with the oncoming greatest depression this country has ever seen.
I beg to differ. For me it will be still difficult years ahead but in 5 to 7 years things will start improving and it will only go uphill. We are with one of the strongest currencies we could have. London will still be the center of the world for a long time. Be patient and positive!
Brazil is a growing country though and is likely having an economic boom to those that can exploit that. UK on the other hand is going downhill. So the interest rate here rest assured due to Brexit and covid and the current recession will mean k retest rates stay low for the next 30 years. During that time we will have another recession which will make it good for up to 45 years before we see a possibility of rises above 4%. UK doesn't manufacture much and it cannot live off the few things that are made here. Services are also being lost to other countries it's on a downhill trajectory. I don't see that changing either. Best to move to Canada, new Zealand, Singapore, etc.
I meant the credit card and overdraft interest rates, sorry... For mortgages it’s around 12% a year the cheapest ones, still ridiculous... Brazil.
Posted 8th Dec 2020Posted 8th Dec 2020
Nationwide 5 year fixed mortgage 1.39% £999 product fee, free legal and valuation, 60% LTV
Works out better for me than the Santander deal £500 cashback option if you don’t take the free legals.
Depends on size of mortgage. Paying 0.2% more interest to save on fees on a £200k mortgage is significantly more than the savings from £999 lower mortgage amount.
Yes, but not if you instead overpay the £999 that you would have paid on fees. I am not against fees, just they don’t make sense for my personal mortgage situation is all, if fees work for others, go for it
Err. The higher interest rate on fee free deals means you'll end up paying more interest over the period and have paid back less of your capital after the period if you were to repay the same amount each month.
With Brexit mostly sorted now things will probably settle down , certainly after the stamp duty exemption ends in March, demand for housing might increase due to people leaving the cities , the pressures put on relationships by covid lock down causing breakups and many job losses causing people to downsize. As has been said on here before do your research on what you can afford , the Martin Lewis website, moneysavingexpert.com, is a good starting point to familiarise yourself with the terms and types of mortgage products, there are calculators for overpayment which let you see how you can shorten your mortgage term. London and country, www.landc.co.uk, I believe it's called are an independent mortgage advice service that will go through all the possibilities with you. Best thing you can do now is paying off any debts and cancelling unnecessary outgoings so your ability to pay is less risky for a lender if they stress test you.
Posted 1st Aug 2020Posted 1st Aug 2020
Personal Loan 2.9% APR £7500 - £25000 ( Existing Customers ) @ Nationwide Building Society
Nationwide Building Society are offering personal loans to existing customers at 2.9% APR on loans between £7500 - £25000, they have been offering this for a while now. Easy to ap… Read more
No problem buddy :D glad I could help I got that amount last year to improve the house :)
Check money saving expert website
I applied yesterday and got £10k at 2.9% (needed to buy a replacement second hand car as old one broke down and wasn't worth repairing). So thanks OP. Bcfaigg
Do you know of any good 0% balance transfer deals atm just looking to switch mine. Cheers.
I’m looking to do this, but I’ve recently applied to a bunch of accounts, 2 Amex cards, a Barclays credit card and 2 debit accounts. Not to do anything sinister, just because I’m new into the country and settling in so though I may as well have my bank accounts and credit cards setup, take the short term credit score hit and be better off in the long run with the average age of accounts... But now with personal loan rates as low as they are, I’d like to take advantage of them and get an EV, how longs it gonna take before I’m able to get the lowest of rates!?
Posted 31st Jul 2020Posted 31st Jul 2020
5 year fixed mortgage - 1.64% - No booking fee - 60% LTV @ Nationwide
Nationwide have a 5 year fixed rate mortgage with a 1.64% rate and no booking fee with 60% LTV, applicable for new and existing customers. A few of the lenders have recently increa… Read more
governor and deputy of the BoE yesterday said they weren’t looking at going negative and .1 is better
This rate has now gone up to 1.69% from the 1.64%. This is still a cracking rate for a fee free mortgage! Will it go up from this rate? Possibly in the short term then will probably be cut once the stamp duty holiday has finished and if negative rates are introduced....
Not for me - just offered this exact deal through the Nationwide app, took less than 2 minutes to apply and be approved. Takes me to the end of my mortgage, WOOHOO!
Our mortgage advisor has said few lenders are accepting. We provided a letter from employer confirming return date to work. So there is no redundancy. Let see how things sail
Strange; I applied and included an email change in my application and they accommodated the whole thing. Completed last week.
Apparently driven by 30% of people wanting to leave cities. Very interesting.
How are you? XD The doom and gloom merchants on this thread were wrong, house prices continue to rise in spite of everything.
Realistic - house prices have not fallen, nor show any signs of doing so: "The Office for National Statistics (ONS) said average house prices increased over the year to the end of February in England to £268,000 (up 8.7%), in Wales to £180,000 (up 8.4%), in Scotland to £162,000 (up 8%) and in Northern Ireland to £148,000 (up 5.3%)."
Yes I saw that report on TV last night or a couple of days ago. Shocking.
I was just passing through Demand for bigger homes' pushes up UK house prices: https://www.bbc.co.uk/news/business-54838553 Coronavirus really doesn't seem to have dropped house prices, if anything it's driven them up (shock) See you in 6 months? (y)
Posted 29th May 2020Posted 29th May 2020
Nationwide 5 years fixed rate mortgage - 1.49% - £999 booking fee - 75% LTV @ Nationwide Building Society (Existing customers)
Today Nationwide lowered most of its mortgage rates. Just got this same deal at 1.59% a couple of weeks ago so I thought this is a great deal! Please mind that going for a feefree… Read more
You can do a remortgage quote online with nationwide if you’re an existing mortgage customer. They will show you the sums for all options inc with fee and without fee. You can also amend your up or down term (within reason) without the need for an affordability check. Really simple process. My current tracker ends 30th June, back in April I set up my switch to a 5yr fixed for 1.69%. The rate dropped to 1.64% a couple weeks back, so I submitted a new remortgage online at the new rate. I’ll continue to keep checking the rates right up until my existing tracker ends.
Exactly same situation and I got exactly the same answer. I'll just leave June with no fixed rate and start from July.
This product was released on 29th May. I had a fixed term coming to an end, and am eligible to switch from 01 June. Nationwide advised that the earliest this new rate could start would be 01 July because they wouldn't have enough time to process it for 01 June. Has anyone else encountered this or similar? If so, what was the result? Hot for the product. Less so for the service that goes with it.
im also looking at winning the lottery soon...... ya pays your money ya takes your chances (y)
Iver been in the market for a new mortgage - Initially went enquired with nationwide..what a joke - the 'advisor' was useless and took nearly 30 mins yto get my basic address details input! I gave up in the end. Also agree that those adverts are so bad that I really didnt want to give them 1st shout but rates seemed good. Anyway after that awful 1st customer interactoion experience i went and applied elsewhere, awaiting a decision ( now 8 days at the underwriter!) but they are making me jump through hoops on the application despite having a 65% LTV. Guess this backs up some of the comments in this thread.