Existing Nationwide borrowers
Check our definition of an exisiting Nationwide borrower
If your client is an existing Nationwide mortgage customer and has a query regarding their mortgage, they can call us on 0800 30 20 11. Lines are open 8am-8pm Monday to Friday and 8am-5pm on Saturday.
Additionally, the sections below provide further information that you may find useful:
Porting is when an existing Nationwide borrower moves home and transfers their mortgage product for the remainder of its term.
Most of the mortgage products available through Nationwide are portable. Please refer to your client’s mortgage offer for more details.
If your client is looking to port their product, they should be aware that:
- Products can only be ported on home mover or second property home mover applications.
- Any additional borrowing required above the ported balance can only have a product from our current product range.
- Your client must be within the last three months of their current product deal period to avoid ERC's, and are either taking a new deal with Nationwide, or are porting and reducing their loan amount. Please refer to your client's mortgage offer to see when their deal period ends. All our mortgage products are true term products.
- We can’t accept purchase applications from existing borrowers moving home who intend to remortgage their existing property as a Buy to Let, unless the new lender will be The Mortgage Works. The existing Nationwide mortgage can’t be transferred to any other lender.
- Existing Nationwide borrowers who have an interest only/part & part mortgage and are moving home can keep the amount they have on their interest only mortgage where the existing product is ported. They must also ensure they have an acceptable mortgage repayment strategy in place.
At application stage, your client can also change the term of their mortgage when porting, subject to criteria. Your client can also port from a joint mortgage to a single mortgage and vice versa.
We expect the sale and purchase transactions to complete simultaneously. However, we understand if there are delays in the completion of the purchase, then the situation is out of your client’s control. If your client has to unexpectedly redeem their existing mortgage prior to completion of their new mortgage, we will:
- continue to process your client’s application if a mortgage offer has already been produced. The new property purchase must then complete within the offer validity period. OR
If a mortgage offer hasn’t yet been produced but redemption of the existing mortgage has taken place, your client will have up to 180 days from the redemption date to reach completion.
If neither of the above is achieved, the porting facility will be lost and a new application must be submitted based on our current product range (this doesn’t guarantee acceptance of any future application).
How to submit a Porting Case
You can produce KFIs for ported cases and submit applications via NFI Online. The KFI is produced as part of the product selection stage of the application.
Download our step by step keying guide for porting applications
If you need to rekey a porting application, please ensure you have cancelled the original application. You won't be able to locate the current mortgage through the system to start a new application if there is an open case in the background.
There are a small number of porting exceptions which can't be submitted via NFI Online and need to be submitted by completing a Manual KFI Porting Request form:
- Porting a 25 year fixed rate
- Porting an account with a future dated Product Switch
- Porting if the mortgage term takes the applicant past 75 years old (like for like applications only)
- Porting of 5 or more accounts with no additional borrowing
- Porting of 4 or more accounts with further borrowing
- Porting an account where the current mortgaged property is being let out
- Porting of 3 or more applicants (like for like applications only)
The full application will need to be posted to:
Nationwide Building Society (IPA)
Northampton Service Centre
Kings Park Road
There are no product or booking fees when porting, but fees will apply to any new products taken as part of the new house purchase.
Early Repayment Charges
Your client won’t have to pay the Early Repayment Charge (ERC) if:
- they port the balance and terms of their product to the new loan for the remainder of the product deal period.
- the balance ported is equal to the remaining balance on the existing mortgage (if they want to port part of their existing debt, an ERC will be payable on the balance that isn't ported).
- they are within the last three months of their current product deal period, and are taking a new deal with Nationwide, or are porting and reducing their loan amount. Please refer to your client’s mortgage offer for more details.
All our mortgage products are true term products. This means that if your client’s completion date is delayed, their mortgage will still run the full deal period. For example, if your client has a 2 year deal and completes on 7 August 2018 they will make 24 monthly payments and revert to our SMR on 1 September 2020. The SMR is currently 3.99% and has no upper limit or cap.
Where the ERC isn't payable, the solicitor will need to account for the ERC and redemption expenses from the sale. They'll need to deduct these before sending the payment through to us.
An existing Nationwide mortgage borrower, who is moving to a new property, can redeem their current mortgage in favour of another Nationwide mortgage product. However, they’ll need to pay any ERC that applies to the current mortgage (unless they are within the last three months of their current product deal ERC period).
We can’t accept purchase applications from existing borrowers moving home who intend to remortgage their existing property as a Buy to Let, unless the new lender will be The Mortgage Works. The existing Nationwide mortgage can’t be transferred to any other lender.
If your client has a Nationwide mortgage and wants to borrow more, they could:
- Apply just six months after the completion of their main loan
- Borrow from £5,000 up to 85% of the value of their home (including their current mortgage), or 90% if repaying a Help to Buy equity loan in full
- Borrow for any reason, except capital raising for business purposes* or to purchase land or property to be let.
Your client will need to speak to Nationwide directly
- They can call us on 0800 121 7466
- Visit their local branch
- Or find out more information on our customer website
*We define business purposes as:
- Injection into any new or existing business
- Repayment of any business debt
- Payment of HMRC tax bill (borrowing to pay an inheritance tax bill is acceptable)
The above list is not exhaustive but covers the reasons most commonly seen.
You're able to complete a rate switch on behalf of your client via NFI Online under the following circumstances:
- Your client is on a Nationwide Base Mortgage Rate (BMR) or Standard Mortgage Rate (SMR) product.
- Your client is currently on a tracker product and doesn't have an early repayment charge (ERC).
- Your client is within five months of their product expiring. The earliest the switch can take place is the first month of the 3 months ERC free waiver period.
- Your client is not amending their existing mortgage term.
If your client is looking to switch their product, they should be aware that:
- Rate switches are subject to an automated property valuation. This will be used to determine the current loan to value for the purposes of product selection. Results are based on regional price movements in the UK. Differences in quality of fittings and decoration won't be considered.
- Eligibility to switch a product is subject to your client having an account that is no more than one month in arrears.
- A rate switch application won't be able to proceed if the property is let.
- Clients' subject to a Bankruptcy Order or Individual Voluntary Arrangement (IVA) aren't eligible to complete a rate switch until their bankruptcy or IVA is discharged and the trustee has confirmed they no longer hold an interest in the mortgage.
- They're switching a tracker product to a fixed rate product.
- The product is being reserved within three months of the end of the clients existing product term.
- Where there are more than two clients on the existing mortgage.
- Where your client is switching more than four accounts.
- Where your client is serving in the armed forces with a British Forces Post Office (BFPO) address and their property is currently let.
Read our Rate Switch FAQs to see if we’ve answered any of your queries.
Switch and Fix
For tracker mortgages reserved prior to 2 May 2014- Client has the option to switch to a fixed rate at any point in the deal period, with no ERC (a product fee may apply).
For tracker mortgages reserved from 2 May 2014- As no ERC applies, your client can switch to a new mortgage deal without incurring a penalty (a product fee may apply).
To switch a tracker product with an ERC, or to switch a fixed rate product mid-deal, your client must complete this with Nationwide directly and it will be subject to the relevant ERC's. See our customer website for further details.
It isn't possible to complete a rate switch through MTE.
If your client is switching multiple accounts (up to a maximum of four per application), only one product fee will be charged per application.
Early Repayment Charge (ERC)
Your client won’t have to pay an ERC if:
How to submit a rate switch case
Most offers for rate switch applications can be produced via NFI Online. The offer is produced at the end of the application, prior to confirming the switch and paying the fee.
Download our step by step Rate switch keying guide for more information.
Rate switch exceptions
The following rate switch scenarios need to be submitted as paper applications:
To request a manual offer for an exception, please complete the Rate Switch Application Form and follow the instructions on the form. Once this has been completed by our team, you will need to complete our Rate Switch Offer Acceptance Form to confirm that your client has accepted the offer.
Your client may be at risk of losing features when switching to a new mortgage product. For more information, please go to the borrow back section.
Rate Switch with Additional Borrowing
Where your client wants to complete a rate switch and also apply for additional borrowing, this will need to be processed as two separate applications. You can complete the rate switch on behalf of your client, but if they wish to take additional borrowing, they will need to speak to Nationwide directly. Please be aware, if your client wants to proceed with both applications, this may result in them paying two fees depending on whether products with fees have been chosen.
Changes to mortgage term or repayment type
Your client will need to call 0800 30 20 10 to change their mortgage term or repayment method. These are handled separately from the rate switch process. Either transaction can be completed first, depending on you and your client’s preference.
Rate Switch dates
Rate switches always take effect from the 1st of the month. Switcher applications must be submitted and accepted, at least six days before this- see the table below for full details. After this time, the new deal won’t apply until the 1st of the following month.
|Direct debit collected||Last submission/acceptance date|
|1st of the month||6 days before the end of the month|
|2nd of the month||5 days before the end of the month|
|3rd of the month||4 days before the end of the month|
|4th - 28th of the month||3 days before the end of the month|
Mortgages taken out before 29 April 2009
If your client's current mortgage was taken out before 29 April 2009, they will move to our Base Mortgage Rate (BMR) when their deal ends. The BMR is guaranteed to be no more than 2% above the Bank of England base rate and includes the ability to borrow back any overpayments your client may have made, and take payment holidays. If your client chooses to switch to a new mortgage product, they'll no longer have access to the BMR or its facilities and will revert to our Standard Mortgage Rate (SMR) which has no upper limit or cap.
Mortgages taken out before 4 March 2010
If your client(s) took their mortgage before 4 March 2010 and are currently on our Standard Mortgage Rate (SMR), your client will also have access to borrow back and payment holiday facilities. Please be aware that if your client chooses to switch to a new mortgage product, they will no longer have access to these facilities.
If your client(s) make mortgage payments exceeding the contracted monthly amounts, these overpayments will form an 'Overpayment Reserve'. Your client can then choose to (with prior permission from Nationwide) utilise this Overpayment Reserve to lower future monthly mortgage payments should they wish. As a result, when completing a rate switch application, the Overpayment Reserve will be included in the Total Mortgage Balance and used to calculate the Loan to Value (LTV) of the application.
If the client wants to remove the Overpayment Reserve, you will need to complete and return the Overpayment Reserve Removal Form The Overpayment Reserve will be removed on the same day if the request is received by 3pm and will be removed on the next working day if it’s received after 3pm. Once this has been removed, you will need to start a new rate switch application.
Please complete the Overpayment Reserve Removal Form and follow the instructions on the form.
Your client may be able to take a payment holiday if they took their mortgage out prior to 4 March 2010.
Your clients can apply to take a payment holiday of between 1 to 12 months. To apply your client must have:
- Held a Nationwide mortgage for more than one year
- A mortgage that is less than 80% of the value of their home at the end of the payment holiday
More information for your client, including how to apply, is available on our customer website.
- If your client is experiencing difficulties in meeting their mortgage repayments then a payment holiday may not be appropriate
- Please ask them to contact us to discuss the options available to them:
- Visit our customer website
- Call us on 0800 464 30 40
Terms and conditions apply.
Borrowing in retirement allows borrowers who are already retired to take out a new mortgage with a term up to the eldest applicant’s 85th birthday, rather than our standard maximum age of 75.
Please see our borrowing in retirement page for more information.