Variable rate and tracker remortgage

• Your interest rate tracks the Bank of England base rate†, currently 3.0%.
• At the end of the initial period you move to our variable Base Mortgage Rate (BMR) for the remainder of the mortgage term.
• No extended tie-in after the tracker period.
• Switch and fix facility.

Base Mortgage Rate:

• The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period.
• A competitive variable rate mortgage.
• No reservation fee.
• Flexible features - overpayments, underpayments and more.

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

† If the Bank of England Base rate is 1% or less during the tracker period, the rate you pay will be 1% plus the agreed set percentage above the Bank of England base rate. This means that the rate you pay will never go below 1% plus the additional percentage rate of your tracker mortgage. This is known as the tracker floor.

Borrowing limits apply. Please ask for details.

FAQs

• What is a variable rate mortgage?

  With a variable rate mortgage, the interest you are charged will change according to market conditions or the Bank of England's base rate. This means that if rates fall, your payments could go down. However, if interest rates rise - then so do your repayments

  Our tracker mortgage range:

  • Our tracker mortgage tracks the Bank of England base rate†.
  • No extended tie-in after the tracker mortgage period.
  • Switch and fix facility (if you want to move from a tracker mortgage to a fixed deal).

  Our Base Mortgage Rate (BMR):

  • The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period.
  • Our most flexible mortgage – with overpayments, underpayments and much more.
  • Nationwide's BMR deal offers some of the lowest rates on the market.
  • Guaranteed not to be more than 2% above Bank of England base rate.
  • No Reservation Fee.
• Is a variable mortgage right for you?

  With a BMR deal, the interest you are charged will change according to market conditions or the Bank of England's base rate. 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 of fluctuating interest rates then it could be the right deal for you.

  However, if you would rather know exactly how much money you'll be charged each month (for example if you're on a tight budget) then a fixed rate deal might be a better option for you.

  You can apply online now for a tracker mortgage deal.