Getting the timing correct on a remortgage on your home is really important. Leave it too late and you could be put on the standard variable rate which could prove very expensive.
The average time for a Nationwide building society remortgage is 10 weeks. The timescale will be dependable on how straightforward your mortgage and financial situation is.
In this guide, we will look at remortgaging with Nationwide and mortgages in general. We will not only give you the perfect Nationwide mortgage timeline but also how to get a great Nationwide mortgage deal and also a few pointers that can speed up the mortgage process.
Nationwide Remortgage: How to renew your mortgage with the Nationwide Building Society
If you are an existing Nationwide client the best time to get the Nationwide mortgage application underway is 4 months before your tie-in period finishes. This will give you plenty of time in case there are any hold-ups on their services.
It is really important to get the remortgage done in the correct timeframe. If the remortgage takes too long you are at risk of being put onto the standard variable rate (SVR) and this could cost you several hundred pounds on monthly payments
If you are not wanting to change anything about your Nationwide mortgage; for example, you want to keep the same mortgage term and same mortgage amount. The process for this is usually quite straight forward and in most cases, Nationwide will not want any new proof of income or want to look at your outgoings and debts.
Nationwide Mortgage Renewal
If you are wanting additional funds to make home improvements or want to increase or decrease the term then Nationwide Building Society will look at you as a new Nationwide mortgage application.
Are you looking at consolidating debts as part of your remortgage? You may have a loan secured against your property or possibly other debts like credit cards you want to consolidate. This can be a way of reducing your monthly payments however you need to be aware that over the term of the mortgage it may cost you more. Get sound advice on this subject from a mortgage advisor.
When can I remortgage Nationwide?
Nationwide will want evidence of income and will also want to look at your outgoings and debts to check the mortgage is affordable. Your mortgage will be underwritten therefore this can take longer and we would advise you start your remortgage 16 weeks before your existing Nationwide mortgage deal ends.
How do I know when my existing Nationwide deal ends?
There are two places to find the exact date that your existing Nationwide mortgage deal ends. The first place will be on your existing mortgage offer where it should state clearly when your existing deal finishes and when you no longer have an early redemption charge.
The second place you can find when your existing deal ends is on your annual mortgage statement. Again it will have the date that you will no longer be charged an early repayment charge.
How long before my fixed rate ends can I remortgage Nationwide?
If you are an existing mortgage customer of the Nationwide Building Society and asking when can I remortgage with Nationwide. The earliest you can start a Nationwide mortgage renewal is 3 months before your existing deal ends. If your mortgage case is slightly complicated it may be worth seeking advice from a mortgage advisor previous to the 3 months.
Does Nationwide use mortgage affordability calculators?
Nationwide decide on how much they will lend on mortgages by using a mortgage affordability calculator.
All enders use affordability calculators on their mortgages however the amount they lend you can differ therefore if you find that Nationwide is not willing to lend you the amount you need it might be worth finding out what other Banks and Building Societies are willing to lend you and the services they offer.
Does Nationwide have the best Interest rate?
There are over 90 different mortgage lenders in the UK. These banks and building societies offer over 14,000 different interest rates and deals. That’s a lot of mortgages! It might be worth having a shop around as the chance of Nationwide mortgages having the very best interest rate and deal for you is very slim.
Is there an easy way to remortgage?
There is an easy way to remortgage. There is a way you can get mortgage specialists to search the whole market to find you the very best interest rate and deals and lowest monthly payments on your home.
On top of this once they have found you the right mortgage lender they will get the mortgage application submitted for you and see it through to completion. In the next section, you will find out who these mortgage experts are.
Introducing the Fee-Free mortgage broker
A mortgage broker’s sole job is to search the whole mortgage market to find you the very best deal to minimise your monthly mortgage payments. They will remove all the hard work and stress from remortgaging. Also, every mortgage lender has its own lending criteria. A broker’s services include knowing which mortgage lender is most likely to accept you for your mortgages.
Search for an Independent Fee Free Mortgage Broker
The best way to find a broker is to carry out a Google search –
“Independent Fee Free Mortgage Broker” (Because why would you ever choose to pay for a broker?)
This will give you a list of mortgage brokers that will be able to help. You may have spotted that we included fee-free in our search! Yes, it’s true. It is possible to get a broker to carry out the whole remortgage for you taking away all the stress and worry without having to a penny for the service.
All mortgage brokers get paid the same by the different mortgage lenders. Some charge their mortgage customers an additional fee on top and some don’t! (we don’t).
Make sure you get a highly rated mortgage broker
The best way to make sure you get a really good mortgage broker is by checking out their services and reviews. Have a look at the Trust Pilot, Facebook reviews, and Google reviews.
- Firstly there should be hundreds of reviews as this means they help a lot of new mortgage customers.
- Secondly, they should all be 5-star reviews. This means they not only help a lot of people but those people are content and love the service and help they have received.
Use YesCanDo Money
One of the UK’s leading fee-free, independent & highest-rated mortgage broker
YesCanDo Money is a family-run independent fee-free mortgage broker. They have an amazing team of experienced mortgage advisers that are at hand to help you and add value through every step of your remortgage.
A mortgage adviser will spend the time to really understand what you are wanting to achieve and to give you the very best value, advice, and interest to keep those monthly payments as low as possible.
Get The Best Nationwide Remortgage Deal
YesCanDo Money does multiple searches and research the whole UK mortgage market and report back to you with the very best interest rate and deal for your situation whether it’s for mortgages on your home or Nationwide buy to let mortgage on your investment property we will get you the best new mortgage deal.
We Organise The Mortgage Application
Once you are content with the deal and the monthly payments the mortgage adviser services include submitting your Nationwide mortgage application for you and completing all the paperwork.
YesCanDo Money will talk to your property conveyancer or solicitor and any other parties seeing your mortgage application through firstly to mortgage offer and then through to completion. They are on hand to help.
If you are moving home we have a team of advisors nationwide here to help by speaking to your estate agent selling your home and also the estate agent from who you are buying your new home. Our services include making sure your conveyancer has sent off for the local authority searches on your new home and arranging any home insurance.
The art of a smooth remortgage is communication. The team at YesCanDo Money not only uses email and phone but also uses WhatsApp with their mortgage customers to make getting updates and any questions you may have an easy process. This all adds value and leads to content customers which can be seen in our Trust pilot reviews. also have a look at our reviews on external websites and social links like Facebook and Twitter.
You can YesCanDo Money Monday to Friday 8 am- 5 pm and 8 am to 6 pm Saturday. we are closed Sundays and bank holidays, therefore, please contact us on WhatsApp
YesCanDo Money is authorised and regulated by the financial conduct authority. Nationwide Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.
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