Nationwide mortgages

Standard and Base Mortgage Rates

When you reach the end of a fixed or tracker deal, you will automatically move onto either our Base Mortgage Rate (BMR) or Standard Mortgage Rate (SMR), depending on when you reserved your original fixed or tracker deal.

If you reserved your fixed or tracker product through Nationwide on or before 29 April 2009, through Derbyshire on or before 30 May 2009 or through Cheshire on or before the 14 June 2009, you’ll move on to the Nationwide BMR. If you reserved your product after those dates, you’ll automatically move on to the Nationwide SMR.

Both are variable rates which we may vary in accordance with our mortgage terms and conditions. The BMR is guaranteed to be no more than 2% above the Bank of England Base Rate, whilst the SMR has no upper limit or cap.

If you choose to switch from our BMR to a new product, it isn’t possible to switch back to our BMR at a later date.

Further details of our BMR and SMR can be found in the table below:

Standard and Base Mortgage Rates
  BMR SMR
Rate currently: 2.25% 3.74%
Applies to fixed or tracker deals reserved: On or before 29 April 2009 - Nationwide mortgages
On or before 30 May 2009 - Derbyshire mortgages
On or before 14 June 2009 - Cheshire mortgages
On or after 30 April 2009 - Nationwide mortgages
On or after 31 May 2009 - Derbyshire mortgages
On or after 15 June 2009 - Cheshire mortgages
Upper limit or cap: Guaranteed not to be more than 2% above Bank of England base rate None
Flexible features: Unlimited overpayments Unlimited overpayments

YOUR MORTGAGE IS SECURED ON YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DON'T KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgages are subject to underwriting and criteria. Minimum age 18, UK residents only.