Written on: 05/01/2011 by jcorbett (6 reviews written)
Nationwide mortgage is fine and you can overpay on the repayment option , either in lump sums or at £500 a month. However the minute you do pay a lump sum , be very careful ,as Nationwide desk clerks, call centre staff, and Branch Managers dont know how to handle , record and subtract lump sums from your mortgage and re calculate it. I paid in a lump sum of £10K + and it was not credited for a long time, and then when I received an updated statement, it had three years added to it for duration ! when I took this to the branch and insisted on an appointment with the manager as the desk clerk and call centre were completely incapable of answering any questions on what my mortgage now was , and how it should be re calculated. The Branch Manager was first out to lunch , then not available , and when I finally got to see her was so blatantly not interested its incredible, only after seeing two "managers" and learning when I challenged the second one to manually recalculate my mortgage which I did , that he didnt know how to manually calculate mortgage interest and duration , apparently he is a "manager" . So finally contacted their head office and after much hassle a director resolved the issue , but cost me three days off work , and an insight into how poor their staff skills are.