A Nationwide remortgage has built-in flexible features to suit your lifestyle and requirements. A range of fixed-rate, tracker and variable rate packages benefit from interest calculated on a daily basis, and no hidden fees – valuation, arrangement and basic legal costs are covered by Nationwide.
Nationwide Remortgage Review
Nationwide is the largest building society in the world and the UK’s 4th largest mortgage lender, with roots going back to 1849. It has maintained its mutual status through more than 100 mergers.
Nationwide holds a total of 1.2 million mortgage accounts in the UK. Since 1996, it has delivered over £4.5 billion in benefits to its customers.
The top Nationwide deals could help you to:
- Enjoy more flexibility with your remortgage, including the option to make overpayments and “draw down” from the overspend at a later date
- Free up equity in your home for an extension, new car or school fees
- Choose whether to pay off the loan gradually, or to just pay interest on the capital until the end of the term
- Switch to another Nationwide policy at any time without incurring charges
What is a remortgage?
A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:
- Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
- Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.
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