Are mortgage rates negotiable? re-mortgaging/loyalty etc??
Discussion
..or is it simply "computer says no"
Currently with Nationwide on their standard variable at 3.99% which is pretty reasonable.
Annoyingly, if we had commenced the mortgage around 4 months earlier we would of being put on their base mortgage rate for life @ 2.5% - which IMO is great.
I'm looking at the minute to re-mortgage, I could get a fixed term over 5 years with YBS that will save me just over £50 a month after all fees etc.
This is obviously tempting, but am I missing a trick with the Nationwide? If I stopped with them am I likely to be offered a better deal? Are they bothered for keeping me? If I ring and say I'm looking to leave will they care? Will they look to put me on a better rate?
Ultimately, I want to be on their BMR - but I realise they have to draw a line somewhere.
Sorry for carrying on, but any advice would be greatly appreciated.
Currently with Nationwide on their standard variable at 3.99% which is pretty reasonable.
Annoyingly, if we had commenced the mortgage around 4 months earlier we would of being put on their base mortgage rate for life @ 2.5% - which IMO is great.
I'm looking at the minute to re-mortgage, I could get a fixed term over 5 years with YBS that will save me just over £50 a month after all fees etc.
This is obviously tempting, but am I missing a trick with the Nationwide? If I stopped with them am I likely to be offered a better deal? Are they bothered for keeping me? If I ring and say I'm looking to leave will they care? Will they look to put me on a better rate?
Ultimately, I want to be on their BMR - but I realise they have to draw a line somewhere.
Sorry for carrying on, but any advice would be greatly appreciated.
It's toss a coin time. Sometimes a lender is happy for you to leave (they get your full mortagge balance returned in one hit) sometimes they will offer you products that aren't as good what they will offer new clients which is annoying but sometimes they pull stupidly low rates out of the hat to retain your business.
If you want to consider your options, drop me a PM and I'd happily run some figures for you
If you want to consider your options, drop me a PM and I'd happily run some figures for you
CaptainSlow said:
philmots said:
I've just done a few searches on the NW BMR and at the minute it appears it's costing them around 800m a year.
Another article from the Telegraph (I've no idea if this is any good) is saying it's not sustainable.
How much does their funding cost?Another article from the Telegraph (I've no idea if this is any good) is saying it's not sustainable.
philmots said:
I've just done a few searches on the NW BMR and at the minute it appears it's costing them around 800m a year.
Another article from the Telegraph (I've no idea if this is any good) is saying it's not sustainable.
So I'd assume the chances of me getting put onto it are slim to nothing.
If you are wanting to get on to the 2.5% BMR, forget it. They are trying their hardest to get everyone off it....Another article from the Telegraph (I've no idea if this is any good) is saying it's not sustainable.
So I'd assume the chances of me getting put onto it are slim to nothing.
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