S
SmallFish
Guest
Question about Lock Down mortgage with say Nationwide ....
Basically I'm thinking about switching mortgage to one of these lock down mortgages ... Nationwide are offering a tracker at a very competative rate with the option to go to fix.
The question I have to all of you is as follows:
At the moment my properties' Loan To Value (having recently had it values by a lender) is a little over 74%, IF I enter a Nationwide lock down mortgage (they call it "switch and fix" I think), are their fixed rates really competitive ... I cannot even find a list of their fixed rates that they have on this mortgage type. Also do you know what their terms and conditions are for actually switching to the fixed rate once say, I would enter Nationwide's lock down mortgage i.e. do they have minimum Loan To Value rates ? so supposing due to the current crop in house prices my LTV goes from 74% to 90% (extreme example) would I not be able to switch to Nationwide's Fixed Rate EVEN THOUGH I have entered into a mortgage agreement with them for the lock down mortgage and I am currently on their floating tracker rate ??????
I know its a case of reading the small print ... but where is this small print available ...? mortgage brokers tend to brush over these details and I've looked on the Nationwide website and I can find no details ..
Please advise / help I need to switch soon.
Basically I'm thinking about switching mortgage to one of these lock down mortgages ... Nationwide are offering a tracker at a very competative rate with the option to go to fix.
The question I have to all of you is as follows:
At the moment my properties' Loan To Value (having recently had it values by a lender) is a little over 74%, IF I enter a Nationwide lock down mortgage (they call it "switch and fix" I think), are their fixed rates really competitive ... I cannot even find a list of their fixed rates that they have on this mortgage type. Also do you know what their terms and conditions are for actually switching to the fixed rate once say, I would enter Nationwide's lock down mortgage i.e. do they have minimum Loan To Value rates ? so supposing due to the current crop in house prices my LTV goes from 74% to 90% (extreme example) would I not be able to switch to Nationwide's Fixed Rate EVEN THOUGH I have entered into a mortgage agreement with them for the lock down mortgage and I am currently on their floating tracker rate ??????
I know its a case of reading the small print ... but where is this small print available ...? mortgage brokers tend to brush over these details and I've looked on the Nationwide website and I can find no details ..
Please advise / help I need to switch soon.
