Posted on 10 March 2011 by David Bloy
We currently have our mortage with Nationwide. House value = £168,000, outstanding mortgage is £45,000. We are seeking additional borrowing of £50,000 to fund an extension. We have approached a broker and Nationwide to look at rates. Our broker says that it wouldnt be worth re-mortgaging as our current Mortgage with Nationwide is good (we have resorted to their SVR) but has said that Nationwide havent offered us the best rates that they could have. What can we do to get the best rate from Nationwide (e.g. can we go through the broker to get a better rate from Nationwide, or should we just push Nationwide?)
I recommend that you use the Interest Rate calculator on Nationwide's own website, I have provided a link below for you. This will show you what rates are available and you can compare these against what you have been advised.
If it turns out that you have not been offered the best possible rates I would take this up with your local Branch Manager and then thank your broker for bringing it to your attention.
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