Page 1 of Anyone got a Nationwide mortgage?

If so do you know if you pay in advance or arrears? Made a payment on 27th August and then moved on 2nd Sept to HSBC mortgage. Today Nationwide have refunded in full the payment made on 27th August and I`m not sure why!
If you pay in advance then it makes sense I suppose

Take the money and run!

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We`re on a baby hunt and don`t think
we don`t know how to weeeeeed `em out.

If your redemption statement was produced before the 27 August then it more likely than not would not have included the payment you made on that day as its not in their interests to include a payment that you may not make in the total sum to redeem.
Therefore when you made the payment on 27 August you in effect will have reduced the money required to redeem your mortgage with Nationwide and therefore if you redeemed on the redemption statement provided you have overpaid and hence the refund.
Hope that makes sense, happens all the time where i work.

What he said ^^^^

Don`t forget to cancel the Nationwide DD

As a contractor who gets very little in the way of protection, I usually pay approximately 3 months worth of payments in one hit & am currently "in credit" to the tune of six months.

If\when we get a buyer I will cease making payments & let the "credit" count down.






I consider myself an optimist, albeit an optimist with cynical tendencies and a dark side that Lucifer himself would find a little creepy. (Perhaps you've noticed.) You don't normally associate cynicism with an upbeat pov. But I have exactly that combination and will defend it.

When fishermen catch dolphin-friendly tuna, how do they know which tuna are being friendly to dolphins?

so from what Kennedy says it would seem that I can keep this money and not worry about them asking for it back.

Thats correct, end of the day Nationwide are certainly not in the habit of giving money back for no reason. This money would to me appear to be yours so dont worry about it.

And to the guy whos making advanced payments and is in credit, id be careful abiout how they apply the money to your mortgage if you have more than one part to it. Make sure theyre reducing the right parts by the correct amounts and so on as if you stop paying for a while and have more than one part you could find one in arrears whilst the other in credit. Depending on the applicable interest rates and so on this could actual end up penalising you.

I`ve obviously heard of mortgages where you can pay more, but I`ve never heard of one where you can pay more for a while, then stop paying for a while! :/
That`s an incredibly flexible mortgage and, as such, I would suspect it doesn`t have a very competitive rate at all.

Hmmm, I think it`s not that uncommon. You can usually overpay and then take a holiday on paymenst for the mortagage to catch up.

ie it`s really like a savings account for your mortagge./

It`s 2008 for God`s sake. Give me my jetpack, and give me my x-ray goggles. This future is rubbish.

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Hmmm, I think it`s not that uncommon. You can usually overpay and then take a holiday on paymenst for the mortagage to catch up.

That may be so.
I`ve evidently never heard of them because rate is of the utmost importance to me, not flexibility.
The more flexibility you want, the more you pay.

As we keep explaining to irate engineers, who finish a job early and want to fly home, only to find their office has booked a cheap ticket, with no changes/flexibility. :¦