Flexible mortgage features

Competitive rates and a range of flexible features as standard.

  • Daily interest
    All Nationwide mortgages have daily interest as standard. Each time you pay off part of your mortgage, whether it's a regular payment or an overpayment, the interest is recalculated the next working day. This means you only pay interest on what you owe. It's the fairest way of charging interest. This reduces your mortgage balance without the need to wait for the end of the month or even year.
  • Overpayment
    You can pay off more than your required monthly payment – 'overpay' – and benefit in a number of ways:
    • Save interest straight away - any money you overpay is deducted from your balance the next working day.
    • Pay off your mortgage earlier (if you have a repayment mortgage). For example, if you overpay by £75 a month on an £80,000 repayment mortgage, with 25 years remaining, at our Base Mortgage Rate of 4.69%*, you could save over £15,000 and pay off your mortgage five years early.
    • Borrow back the money that you have overpaid at any time.
    • Reduce your monthly payments (underpayments) in the future.

    The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period.

    Our fixed rate mortgages have limited flexibility. You can overpay by £500 per month without charge. If you overpay by more than this there will be an early repayment charge payable on the entire overpayment amount.

  • Payment holidays

    Time off from paying your mortgage:

    • There may be times in the future when you want to take a break from paying your mortgage.
    • Payment holidays can be useful for borrowers looking for a short break from making mortgage payments - for example, whilst taking a short planned break from regular employment or whilst starting a family.
    • Conditions apply and you must have held a Nationwide mortgage for 1 year or more.
    • Once your request has been granted, you'll receive a letter confirming the dates of your payment holiday.
    • If you are experiencing payment difficulties i.e. your income is insufficient to cover reasonable living expenses and meet financial commitments as they become due, please call us to discuss all the options that are available to you as a payment holiday may not be appropriate.

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