Nationwide Mortgage Review

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Nationwide Mortgage
2.4 stars
Average rating for this product is: 2.4 out of 5

From 1 rating and 19 reviews

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boltonus's Review of Nationwide Mortgage

16th Jan 2004

Overall Rating

4.5 stars
  • Value for money
    4 stars
Good Points

Building society therefore reinvested profits
Demutualisation very unlikely
Some of the best rates on the high street
Tracker good in a low interest rate enviroment
Professional and efficient


Bad Points

Sometimes hard work getting an appointment
The range of mortgages can be overwhelming
If the interest rate rises significantly the tracker isn't the best one to have


General Comments

Getting a mortgage for the first time is an overwhelming experience. I did a bit of background work by reading 'What Mortgage' and had virtually picked which one we were going to have anyway. Getting an appointment with Nationwide Building Society was a little difficult even though you want to borrow vast amounts of money !

I liked the Nationwide because they were a building society and I think this works in the interests of the customer as profits are reinvested. I also liked them because they made you sign a clause saying if they did demutualise then the shares would go to charity - thus deterring potential carpetbaggers. They have some of the best rates on the high street with my mortgage being only 0.09% above the Bank of England Rate. I have no problems recommending them as a company and I envisage myself stopping with them - although you have to continually shop around !

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Members' Comments onboltonus's Review

  • jj bullions on 22nd Oct 2005

    They may be a good building society, but should leave banking to people who know how to treat customers.

NameProduct TypeDiscount LengthSubsequent RateOverall Cost  
WoolwichStep Lifetime Trackeruntil 30.04.2011(Base+ 2.49%) currently 2.99%3.00% APR
AbbeyTracker2 year4.24%4.10% APR
WoolwichOffset TrackerTerm(Base+ 2.47%) currently 2.97%3.10% APR