Switching mortgages - interest rates

As an existing Nationwide borrower, you can choose from any of our great value mortgage interest rate deals.  At Nationwide we believe in treating our customers fairly – that's why we'll explain the benefits of each mortgage interest rate type, and any fees and charges involved. You can find out more about your repayment and mortgage interest rate options by clicking on the tabs above:

You have two mortgage interest rate options to choose from – fixed and variable mortgage rates:

• Switching to a fixed rate deal

  With our fixed rate mortgage deals your interest rates remain the same for an agreed period of time.

  

  • At the end of the fixed rate period you move to our variable Base Mortgage Rate (BMR) for the remainder of the mortgage term.
  • You can make overpayments of up to £500 per month with no charge.
  • No extended tie-in after the fixed rate period.

  It's easy to change your mortgage deal, just contact your local branch or call one of our mortgage advisors on 0800 30 20 10 to discuss your options.

• What is a variable rate mortgage?

  Variable mortgage interest rates are deals where the interest you are charged can go up or down depending on market conditions. This means that if rates fall, your payments could go down. However, if interest rates rise - then so do your repayments.

  If you're happy to take the risk, then it could be the right deal for you.

  We have two types of variable rate mortgages:

  Our tracker mortgage interest rates are a form of variable rate that follow fluctuations in the Bank of England's base rate. They change as that rate changes, by an agreed additional percentage.

  Our Base Mortgage Rate (BMR) is a fully flexible mortgage product where we set the mortgage interest rates. The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period.