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  • First Time Buyer Offers and Schemes
    schemes Help to Buy equity loans At Nationwide we re proud to support the Government s Help to Buy equity loan schemes Help to Buy loans are available through the Homes and Communities Agency for first time buyers and home movers who would like to buy a new build property A Help to Buy equity loan can provide extra money for the deposit you d like to put towards a new home If you have a 5 deposit through the Help to Buy equity loan scheme you may be able to borrow up to an additional 20 or 40 in Greater London of the purchase price of your home Then you d be able to apply for a Nationwide mortgage of up to 75 or 55 for Greater London All Help to Buy shared equity loans are interest free for five years After that you ll need to pay a monthly interest fee on top of your monthly mortgage repayments If you sell your property you ll need to repay any outstanding balance on your equity loan as well Find out more about Help to Buy Help to Buy Equity loan Borrow up to 20 of the purchase price of a property in England or up to 40 in Greater London This scheme is available for new build homes worth up to 600 000 Find out more Help to Buy Scotland From 1 March 2016 you can borrow up to 15 of the purchase price of a new build property in Scotland This scheme is available for homes worth up to 230 000 Find out more about Help to Buy in Scotland Help to Buy Wales Borrow up to 20 of the purchase price of a new build property in Wales This scheme is available for homes worth up to 300 000 Find out more about Help to Buy in Wales How to apply Find out more about Help to Buy and how to apply on the Government s Help to Buy website Once you have a loan secured you can apply for a Nationwide mortgage When you re ready to apply simply head to your nearest Nationwide branch It s not currently possible to apply online or over the phone for a Nationwide mortgage with a Help to Buy loan Save to Buy for First Time Buyers At Nationwide we re committed to helping you buy your first home One of the ways we do this is by offering a great range of low deposit mortgages called Save to Buy mortgages You can apply for a Save to Buy mortgage if you re in at least your third month of holding a Nationwide Help to Buy ISA See eligibility requirements and details below Terms and conditions Save to Buy mortgage eligibility To apply for a Save to Buy mortgage You need to be at least in the third month of holding a Nationwide Help to Buy ISA or a Save to Buy ISA Savings Account opened prior to 1

    Original URL path: http://www.nationwide.co.uk/products/mortgages/first-time-buyers/special-offers (2016-02-09)
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  • First Time Buyer Mortgage Calculator Online | Nationwide
    About We re the world s largest building society Run for the benefit of our members Being a building society means that we re free to reinvest our profits to improve the products and services we offer About Nationwide About View all about Why choose Nationwide Why choose Nationwide Why choose Nationwide homepage All about membership Citizenship Awards and achievements View all Why choose Nationwide Have your say Have your say Have your say homepage Member TalkBacks Annual General Meeting Social media View all Have your say Corporate information Corporate information Corporate information homepage Governance Our history Results and accounts View all Corporate information Your Nationwide Your Nationwide Your Nationwide homepage Your rewards Your voice Your society View all Your Nationwide Media Policy and Legal Media Policy and Legal Media Policy and Legal homepage Media Centre Policy and Public Affairs Information for Lawyers View all Media Policy and Legal House Price Index House Price Index House Price Index homepage House Price calculator Reports archive Download data View all House Price Index Investor relations Investor relations Investor relations homepage About the business Funding programmes Investor queries View all Investor relations Our people Our people Our people homepage Working for us Jobs at Nationwide Graduate programmes View all Our people Can t find what you re looking for Ways to contact us Find your nearest branch Support We re here to help whether you need assistance with one of your accounts or if you just have questions you d like answered View all support Support View all support Emergency help Emergency help Emergency help homepage Important Travel Information Lost or stolen card Unusual activity on my account View all Emergency help Product support Product support Product support homepage Current Accounts Savings ISAs Mortgages View all Product support Ways to bank with us Ways to bank with us Ways to bank with us homepage Internet Banking Mobile Banking Telephone Banking View all Ways to bank with us Travel Travel Travel homepage Fees and charges Emergency numbers Travel insurance FAQs View all Travel Contact us Contact us Contact us homepage Send us a message Call us Make a complaint View all Contact us Dealing with difficulties Dealing with difficulties Dealing with difficulties homepage Money worries Bereavement Power of Attorney View all Dealing with difficulties Security centre Security centre Security centre homepage Internet Banking security Mobile Banking security Fraud awareness View all Security centre Accessibility Accessibility Accessibility homepage Web accessibility Branch accessibility Setting up your browser View all Accessibility Can t find what you re looking for Ways to contact us Find your nearest branch Contact Us Branch Finder Register for Internet Banking Search Select this to show hide the search box Search Search this site Search Log in menu Select this to reveal panel with log in and registration links for Internet Banking Internet Banking Log in Log in or register for Internet Banking Help and demos Security Centre See more All services are operating normally MySave Online Savings Investor Portfolio Service IPS Legal

    Original URL path: http://www.nationwide.co.uk/products/mortgages/first-time-buyers/mortgage-calculators (2016-02-09)
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  • First Time Buyer Mortgages Help & Guides | Nationwide
    be taken for any purpose except capital raising Add fee to loan You can add the product fee to the loan and spread the cost over the remaining term of the mortgage Advice A recommendation to enter into or vary the terms of an existing mortgage based on your individual needs and circumstances Agreement in principle An initial document from your lender that gives you an idea of the amount they are likely to lend you This certificate is not a guarantee but is often needed when dealing with estate agents so they have an idea of the size of your mortgage and if you can afford the property Also known as a lending decision or decision in principle Annual Equivalent Rate AER AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and compounded once a year Arrangement This is a temporary agreement for those who have previously had payment difficulties allowing you to pay more than the normal monthly payment This allows you to pay arrears or the shortfall that arose during a period when you were making concessionary payments without incurring any charge for overpayments which might otherwise arise under the terms of an early repayment charge B select to show or hide related content Bank of England Responsible for issuing bank notes and maintaining a stable financial economy the Government bank and also a lender for commercial banks Banker s draft also known as a counter draft A cheque drawn on the bank or building society itself against either a cash deposit or money taken directly from your own bank account A banker s draft is a secure way of receiving money from someone you don t know and where cash is inconvenient Banker s drafts are commonly used for large purchases such as homes and cars Base rate The interest rate set by the Bank of England Monetary Policy Committee which is used as a benchmark by lenders to set their own rates which would generally be higher This is reviewed each month throughout the year and can fluctuate go up and down Base Mortgage Rate A variable rate guaranteed to be no more than 2 percent above the Bank of England base rate You have the flexibility to make overpayments without incurring an early repayment charge The Base Mortgage Rate is not available for new mortgage deals and only applies to customers coming to the end of their deal where the product was reserved on or before the 29 April 2009 If you choose to switch to a new Nationwide mortgage product the new product will currently revert onto our Standard Mortgage Rate SMR not the Base Mortgage Rate BMR The SMR has no upper limit or cap and you wouldn t be able to revert to the BMR at a later date Bridging loan A special type of loan which is taken out to overcome a short term cash flow problem usually needed when you buy a property before you sell Borrow Back A feature of a mortgage where any overpayments made may be withdrawn and borrowed back Any overpayments will have already reduced the balance outstanding so when it is borrowed back the balance will increase Interest will be charged on the higher balance and monthly payments will also increase All requests to borrow back overpayments are subject to an eligibility assessment and current lending criteria Consent from all applicants is required Not all of our products have the borrow back feature for example Consumer Credit Act 1974 regulated accounts do not benefit from this feature All mortgages reserved on or before 3rd March 2010 include the option to borrow back subject to eligibility Any mortgages reserved after this date do not include this facility Buildings insurance This is insurance cover for a building which pays out an insured amount in the event of a claim for an insurable event under the policy terms such as fire flood and wind In most cases buildings insurance is needed as part of a mortgage terms Buy to let mortgage Specific mortgages that are aimed at those that buy property to rent out C select to show or hide related content Capital The amount of money you have actually borrowed or still owe on your property not including interest or other charges Capital Gains Tax A Capital Gains Tax is a tax on the gain or profit you make when you sell give away or otherwise dispose of something It applies to assets that you own such as shares or property There s a tax free allowance and some additional reliefs that may reduce your Capital Gains Tax bill Sometimes you may have no tax to pay Capital and Interest mortgage Where you pay off part of the capital amount borrowed as well as interest each month as opposed to interest only This usually means that everything capital and interest will have been fully paid off by the end of the agreed term Also known as a repayment mortgage Collateral Something of value that is given as a guarantee to the lender that you are able to pay back the loan in the case of mortgages it is the house itself Completion mortgage The final stage of the sale when the ownership changes hands from the seller to the buyer Consent to Let Permission from your mortgage provider will be required if you wish to let rent out your property if your current mortgage is arranged on a residential basis Construction Type The material used to build the wall of the insured property i e brick or other material Contract Variations Varying the terms of an existing mortgage for example reducing extending the term or converting the repayment type Conveyancing The process of transferring ownership from one person to another Credit rating Credit rating is a rating system used by financial institutions to judge an individual or company s creditworthiness Depending on how many points the applicant gets when his her personal details are run through the rating system the financial institution will either accept or reject the risk Financial institutions rely on computerised credit rating systems and co operate with each other in providing details of bad credit risks Credit reference agency Credit reference agencies are organisations that gather information about people and businesses across the UK This information comes from lenders such as banks credit card companies and fraud prevention agencies as well as records in the public domain Credit report Credit report is a report issued by a credit agency usually for a small fee which highlights someone s past purchase behaviour and credit rating Credit scoring Credit scoring is a way of assessing someone s financial status This is used to decide which credit facilities can be offered to customers Credit search A credit search is when we carry out a search with a credit reference agency to help us understand more about your credit history Each time a search is done it is noted on your credit record to let other organisations know that we have asked for information about you D select to show or hide related content Daily Interest Where your interest is calculated daily which means you only pay interest on what you owe Debt Consolidation Taking out one loan to pay off a number of other debts You may be able to spread the loan over a longer period which may reduce your monthly payment but by increasing the term you may pay more interest overall It may be possible to increase your mortgage or personal loan to pay off debts but it s important to seek advice before doing this You need to think very carefully before securing other debts against your home as your home may be repossessed if you do not keep up repayments on your mortgage Direct Debit A Direct Debit is an agreement between you and a company you want to pay on a regular basis The agreement you make authorises the company to collect varying amounts from your account on a regular basis Because you re covered by the Direct Debit Guarantee the company should always tell you what these amounts are and when they ll be collected E select to show or hide related content Early Repayment Charges If you repay a loan or a mortgage early or make an overpayment of more than your overpayment allowance an early repayment charge may be payable Equity The monetary difference between the current market value of a property and the mortgage loan held against that property Execution Only Mortgages A mortgage transaction completed by a firm upon the specific instructions of the customer where the firm does not provide advice relating to the suitability of the mortgage transaction Exit fees also known as redemption charges Charged by some lenders when you exit a credit agreement early F select to show or hide related content First Time Buyer A person buying their first property Fixed rate mortgage A fixed rate mortgage provides the security of fixed mortgage repayments until the end of the deal period no matter what happens to interest rates Flexible features Nationwide offers the following flexible mortgage features as standard Overpayments This is when you pay more than your required minimum monthly payment and build up an overpayment reserve This enables you to pay off your mortgage earlier save interest or make underpayments in the future conditions apply Switch and Fix Our tracker products offer the option to switch to a fixed rate within our Switch and Fix range at any point in the deal period without paying Early Repayment Charges on the tracker mortgage Payment holidays For mortgages reserved on or before 3rd March 2010 you can apply for a payment holiday of between three and twelve months if you have had a mortgage for more than one year and your mortgage is less than 80 of the value of your home at the end of your payment holiday conditions apply Any mortgages reserved after this date will no longer include this facility Borrow back For mortgages reserved on or before 3rd March 2010 you can apply to borrow back a lump sum from your overpayment reserve Any mortgages reserved after this date will no longer include this facility Forces Help to Buy This scheme allows eligible members of the Armed Forces to apply for an advance of pay up to 50 of their salary to a limit of 25 000 which can be used towards their deposit This is then paid back over a period of up to 10 years through their monthly salary The pilot scheme is running for three years and is intended to encourage home ownership amongst eligible Armed Forces personnel Freehold Where the sale includes the property and the land on which the property is built and you have complete ownership of both for an unlimited time G select to show or hide related content Guarantor A person who guarantees you will pay the mortgage repayments If you don t pay they are liable to have to pay them themselves Often parents or relatives are guarantors for first time homebuyers to help them to afford a property H select to show or hide related content Higher Lending Charge Some lenders impose a Higher Lending Charge if you only have a small deposit At Nationwide we don t Home Insurance This is a type of property insurance that covers a private residence It is an insurance policy that combines various personal insurance protections which can include losses occurring to one s home its contents loss of use additional living expenses or loss of other personal possessions of the homeowner as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory Premiums and payments are not linked to your mortgage and are payable to a separate policy Home Mover A person selling one property and purchasing another property I select to show or hide related content Interest Rates Borrowing This is the rate at which the lender calculates the interest they charge the borrower expressed as a percentage Saving This is the rate at which is paid to an investor for money that they have invested in a savings account Interest only mortgage With interest only mortgages your monthly payments only cover the interest on the amount you owe so you re not reducing the outstanding sum each month You will need to put additional money aside to repay your mortgage at the end of the term for example into an investment such as an endowment policy or ISA L select to show or hide related content Land Registry A Government department that records registered land in the UK or ownership along with details of that land such as mortgages or sales Legal Interests Someone who has a financial interest in your property such as a mortgage provider Lending Into Retirement When the mortgage term exceeds beyond the customers retirement age Liabilities These are the debts you owe to creditors which may include your mortgage car loan credit card debt etc Loan to Value LTV The loan to value represents the amount you are looking to borrow or the remaining amount of your existing mortgage as a percentage of the value of the property For example if a property is valued at 100 000 and you have a 80 000 loan the LTV is 80 80 000 100 000 x 100 80 M select to show or hide related content Mortgage Payment Protection Insurance MPPI This insurance can cover your mortgage payments if you can t work because you ve become unemployed or can t work because of an accident or illness N select to show or hide related content New Build Property The definition of a new build means a property that has not been occupied within two years of being newly constructed converted or refurbished No Extended tie ins You won t be tied in to any extended Early Repayment Charges Notice of default Legal notice given by the mortgage lender detailing a payment default missed payments by the borrower This notice will also contain details of the steps the borrower must take to pay this off and by what date otherwise the property may be taken over by the lender see Claim for possession O select to show or hide related content Offset mortgage A type of mortgage that allows you to save on the interest you will pay on your mortgage debt by offsetting any savings you or perhaps family friends have linked to your mortgage For example if you have a mortgage of 120 000 and put savings of 20 000 with your lender in this type of mortgage you would only pay interest on 100 000 Overpayments This is when you pay more than your required minimum monthly payment and build up an overpayment reserve This enables you to pay off your mortgage or personal loan earlier or make underpayments in the future conditions apply P select to show or hide related content P a Per Annum which means each year Part and part mortgage Where you choose to split your loan so that you repay part of it on an interest only basis and part of it on a repayment capital and interest basis each month Payment holidays For mortgages reserved on or before 3rd March 2010 you can apply for a payment holiday of between three and twelve months if You ve had your mortgage for more than one year and Your mortgage is less than 80 of the value of your home at the end of your payment holiday conditions apply If you want to find out more information or apply for a payment holiday please call us on 08457 30 20 10 Permanent Resident To be considered a Permanent Resident of the UK you must have Indefinite leave to remain in the UK and you should consider the UK as your home Porting Most of the mortgage products available through Nationwide are portable which means that they may be transferred from one property to another when you sell one property and buy another terms and conditions apply Product Fee A fee charged on some mortgages to secure a particular mortgage deal For mortgages reserved on or before 3rd March 2010 this was known as a reservation fee Property Valuation When you apply for a mortgage we may ask you to pay a valuation fee to cover the cost of valuing your property The valuation fee is payable prior to valuation and is non refundable if the valuation is carried out The valuation is very basic and is carried out for our benefit We strongly recommend that you have a more thorough survey undertaken such as a HomeBuyer Report This will tell you about the quality and condition of the house you want to buy There is an additional fee for this service which can be arranged through Nationwide Q select to show or hide related content Quotation searches indicative searches Information provided by a lender in response to a customer who wishes to know the likely cost of borrowing a specific amount on one or more risk priced products An indicative quotation does not bind the customer to borrow or the lender to provide credit but it can be used to enable a customer to compare different products and costs Any credit search undertaken to provide the indicative quotation is not registered as a full application search at Credit Reference Agencies R select to show or hide related content Redemption Charge If you enter into a new mortgage with Nationwide and subsequently repay your mortgage more than ten years before the natural term you will pay a charge currently 90 unless you are taking a new Nationwide mortgage at the same time Remortgage When you move your mortgage to another lender adding to or

    Original URL path: http://www.nationwide.co.uk/products/mortgages/first-time-buyers/help-and-guides (2016-02-09)
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  • How to Apply
    Travel homepage Fees and charges Emergency numbers Travel insurance FAQs View all Travel Contact us Contact us Contact us homepage Send us a message Call us Make a complaint View all Contact us Dealing with difficulties Dealing with difficulties Dealing with difficulties homepage Money worries Bereavement Power of Attorney View all Dealing with difficulties Security centre Security centre Security centre homepage Internet Banking security Mobile Banking security Fraud awareness View all Security centre Accessibility Accessibility Accessibility homepage Web accessibility Branch accessibility Setting up your browser View all Accessibility Can t find what you re looking for Ways to contact us Find your nearest branch Contact Us Branch Finder Register for Internet Banking Search Select this to show hide the search box Search Search this site Search Log in menu Select this to reveal panel with log in and registration links for Internet Banking Internet Banking Log in Log in or register for Internet Banking Help and demos Security Centre See more All services are operating normally MySave Online Savings Investor Portfolio Service IPS Legal and General MyAccount Personal Finance Portal Skip over secondary navigation to main content Current accounts Savings ISAs Investments Financial planning Loans Credit cards Mortgages Insurance Home Products Mortgages In this section Overview First Time Buyers Moving home Borrowing more Remortgage to us Existing customer switching your deal More Mortgages Mortgages for First Time Buyers Main content of page below What we can offer Our mortgage rates Offers and Schemes Mortgage calculators Help and guides How to Apply What we can offer Our mortgage rates Offers and Schemes Mortgage calculators Help and guides How to Apply First time buyers Apply for a Nationwide mortgage At Nationwide we re here to help make the journey to getting your new home as smooth as possible You can apply for a mortgage with us in two simple steps Step 1 Get a Decision in Principle DIP A DIP certificate is a free no obligations confirmation of whether we d be prepared to lend you You can get a DIP before you make an offer on a property and you can apply for it online even if you want to continue your application over the phone or in branch Before you get a DIP it s worth considering that a credit check is a part of this step and numerous credit checks aren t good for your credit score If you d like to find out how much you could borrow first you can use our Mortgage Affordability Calculator Step 2 Complete your full mortgage application Once you ve got a DIP and have had an offer accepted on a property you can complete your full mortgage application At this point you ll choose a mortgage deal indicate how you ll pay any applicable product fees and tell us about your source of deposit If you d like to get an idea about our mortgage deals before applying search our mortgage rates to see mortgage product features and fees You can

    Original URL path: http://www.nationwide.co.uk/products/mortgages/first-time-buyers/apply (2016-02-09)
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  • Our Best New Customer Remortgage Rates | Nationwide
    to Apply What we can offer Our mortgage rates Our mortgage rates Find rates for me Show me all rates Search for a Nationwide mortgage Borrower type Please select First Time Buyer New mortgage customer moving New mortgage customer remortgaging Existing mortgage customer moving Existing mortgage customer borrowing more Existing mortgage customer deal ending Existing mortgage customer switch and fix mid deal Property value Property Value Information Property Value This is the value or purchase price of the property Mortgage amount Existing mortgage Additional borrowing Term years Loan to value Loan to Value Information Loan to Value LTV The loan to value is the amount you want to borrow or the amount remaining of your existing mortgage as a percentage of the value of the property For example if a property is valued at 100 000 and you have an 80 000 loan the LTV is 80 80 000 100 000 x 100 80 Enter details of your existing mortgage to see how much you could save by switching to Nationwide See if you could save money by switching to another deal with us when your current one ends Just enter the interest rate or amount you currently pay each month and we ll show you the potential annual saving you could make during the deal period What s your current mortgage interest rate OR What s your current monthly repayment Enter details of your existing mortgage to see how much you could save by switching to Nationwide You might be able to save money by switching your current deal or remortgaging to us To find out just enter the interest rate or the amount you currently pay each month and we ll show you the potential annual saving you could make during the deal period What s your current mortgage interest rate OR What s your current monthly repayment Search for a mortgage THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE Committed to helping First Time Buyers get on the property ladder Every 3 minutes we help someone buy their first home We offer our best rates to existing mortgage customers like you Rewarding your loyalty with a range of great deals For new customers moving home A range of great deals to help get you moving Looking to remortgage to save money When you remortgage to us we offer free standard legal fees or 250 cashback as well as free standard valuation fees We offer our best rates to existing mortgage customers like you Rewarding your loyalty with a range of great deals Switch to a fixed rate with no Early Repayment Charge Protect against interest rate rises by fixing your monthly payment We offer our best rates to existing mortgage customers like you Rewarding your loyalty with a range of great deals We ve found mortgages for you Too many to choose from You can refine your search below Deal period 2 years 3 years 5 years 10 years Mortgage type Fixed rate Tracker rate Product fee Product fee No product fee mortgages found Mortgage rates table Mortgage Mortgage This is how long the initial rate will apply to your mortgage and the type of mortgage Initial rate Initial rate This is the rate you pay during the deal period Followed by our SMR Followed by our SMR The Standard Mortgage Rate SMR is the variable rate your loan will move onto when the deal period ends Overall cost for comparison The overall cost for comparison This is the Annual Percentage Rate APR which can be used to compare the total costs of different mortgage deals Fees Fees Fees A product fee may be payable A no product fee option may result in a higher interest rate over the deal period The product fee can be paid when you apply or added to the loan If added to the loan interest will be charged on the product fee over the mortgage term Monthly payment Monthly payment The monthly payment is for illustration purposes only It s based on the initial rate during the deal period and on a capital and interest repayment method It doesn t take into account any fees or charges payable for changing your mortgage or the interest rate you will move onto at the end of your deal period Potential annual saving Potential annual saving The potential annual cost saving is for illustration purposes only It s based on the initial rate during the deal period and on a capital and interest repayment method It doesn t take into account any fees or charges for changing your mortgage or the interest rate you will move onto at the end of your deal period Mortgage features Mortgage features Mortgage features Key features of the mortgage product Compare selected No mortgages were found matching your search criteria Please call us on 0800 111 44 10 open 8am 8pm Mon Fri 9am 5pm Sat Sun or visit your local branch to discuss your options with one of our mortgage consultants OK Information OK Searching our range of mortgages Updating results Hide overlay Compare up to three mortgages Mortgage rates comparison Committed to helping First Time Buyers get on the property ladder Every 3 minutes we help someone buy their first home We offer our best rates to existing mortgage customers like you Rewarding your loyalty with a range of great deals For new customers moving home A range of great deals to help get you moving Looking to remortgage to save money When you remortgage to us we offer free standard legal fees or 250 cashback as well as free standard valuation fees We offer our best rates to existing mortgage customers like you Rewarding your loyalty with a range of great deals Switch to a fixed rate with no Early Repayment Charge Protect against interest rate rises by fixing your monthly payment We offer our best rates to existing

    Original URL path: http://www.nationwide.co.uk/products/mortgages/new-customer-remortgaging/mortgage-rates (2016-02-09)
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  • New Customer Remortgages Special Offers Online | Nationwide
    rewards Your voice Your society View all Your Nationwide Media Policy and Legal Media Policy and Legal Media Policy and Legal homepage Media Centre Policy and Public Affairs Information for Lawyers View all Media Policy and Legal House Price Index House Price Index House Price Index homepage House Price calculator Reports archive Download data View all House Price Index Investor relations Investor relations Investor relations homepage About the business Funding programmes Investor queries View all Investor relations Our people Our people Our people homepage Working for us Jobs at Nationwide Graduate programmes View all Our people Can t find what you re looking for Ways to contact us Find your nearest branch Support We re here to help whether you need assistance with one of your accounts or if you just have questions you d like answered View all support Support View all support Emergency help Emergency help Emergency help homepage Important Travel Information Lost or stolen card Unusual activity on my account View all Emergency help Product support Product support Product support homepage Current Accounts Savings ISAs Mortgages View all Product support Ways to bank with us Ways to bank with us Ways to bank with us homepage Internet Banking Mobile Banking Telephone Banking View all Ways to bank with us Travel Travel Travel homepage Fees and charges Emergency numbers Travel insurance FAQs View all Travel Contact us Contact us Contact us homepage Send us a message Call us Make a complaint View all Contact us Dealing with difficulties Dealing with difficulties Dealing with difficulties homepage Money worries Bereavement Power of Attorney View all Dealing with difficulties Security centre Security centre Security centre homepage Internet Banking security Mobile Banking security Fraud awareness View all Security centre Accessibility Accessibility Accessibility homepage Web accessibility Branch accessibility Setting up your browser View all Accessibility Can t find what you re looking for Ways to contact us Find your nearest branch Contact Us Branch Finder Register for Internet Banking Search Select this to show hide the search box Search Search this site Search Log in menu Select this to reveal panel with log in and registration links for Internet Banking Internet Banking Log in Log in or register for Internet Banking Help and demos Security Centre See more All services are operating normally MySave Online Savings Investor Portfolio Service IPS Legal and General MyAccount Personal Finance Portal Skip over secondary navigation to main content Current accounts Savings ISAs Investments Financial planning Loans Credit cards Mortgages Insurance Home Products Mortgages In this section Overview First Time Buyers Moving home Borrowing more Remortgage to us Existing customer switching your deal More Mortgages Change your mortgage lender to Nationwide Great mortgage deals when you remortgage to us Main content of page below What we can offer Our mortgage rates Special Offers Mortgage calculators Help and guides How to Apply What we can offer Our mortgage rates Special Offers Remortgage to us Special offers Our range of mortgages offers includes a number of money saving features and

    Original URL path: http://www.nationwide.co.uk/products/mortgages/new-customer-remortgaging/special-offers (2016-02-09)
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  • New Customer Remortgage Calculator Online | Nationwide
    Why choose Nationwide homepage All about membership Citizenship Awards and achievements View all Why choose Nationwide Have your say Have your say Have your say homepage Member TalkBacks Annual General Meeting Social media View all Have your say Corporate information Corporate information Corporate information homepage Governance Our history Results and accounts View all Corporate information Your Nationwide Your Nationwide Your Nationwide homepage Your rewards Your voice Your society View all Your Nationwide Media Policy and Legal Media Policy and Legal Media Policy and Legal homepage Media Centre Policy and Public Affairs Information for Lawyers View all Media Policy and Legal House Price Index House Price Index House Price Index homepage House Price calculator Reports archive Download data View all House Price Index Investor relations Investor relations Investor relations homepage About the business Funding programmes Investor queries View all Investor relations Our people Our people Our people homepage Working for us Jobs at Nationwide Graduate programmes View all Our people Can t find what you re looking for Ways to contact us Find your nearest branch Support We re here to help whether you need assistance with one of your accounts or if you just have questions you d like answered View all support Support View all support Emergency help Emergency help Emergency help homepage Important Travel Information Lost or stolen card Unusual activity on my account View all Emergency help Product support Product support Product support homepage Current Accounts Savings ISAs Mortgages View all Product support Ways to bank with us Ways to bank with us Ways to bank with us homepage Internet Banking Mobile Banking Telephone Banking View all Ways to bank with us Travel Travel Travel homepage Fees and charges Emergency numbers Travel insurance FAQs View all Travel Contact us Contact us Contact us homepage Send us a message Call us Make a complaint View all Contact us Dealing with difficulties Dealing with difficulties Dealing with difficulties homepage Money worries Bereavement Power of Attorney View all Dealing with difficulties Security centre Security centre Security centre homepage Internet Banking security Mobile Banking security Fraud awareness View all Security centre Accessibility Accessibility Accessibility homepage Web accessibility Branch accessibility Setting up your browser View all Accessibility Can t find what you re looking for Ways to contact us Find your nearest branch Contact Us Branch Finder Register for Internet Banking Search Select this to show hide the search box Search Search this site Search Log in menu Select this to reveal panel with log in and registration links for Internet Banking Internet Banking Log in Log in or register for Internet Banking Help and demos Security Centre See more All services are operating normally MySave Online Savings Investor Portfolio Service IPS Legal and General MyAccount Personal Finance Portal Skip over secondary navigation to main content Current accounts Savings ISAs Investments Financial planning Loans Credit cards Mortgages Insurance Home Products Mortgages In this section Overview First Time Buyers Moving home Borrowing more Remortgage to us Existing customer switching your deal More Mortgages

    Original URL path: http://www.nationwide.co.uk/products/mortgages/new-customer-remortgaging/mortgage-calculators (2016-02-09)
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  • New Customer Remortgages Help & Guides | Nationwide
    in the long run For example each time you pay off part of your mortgage whether it s a regular payment or an overpayment the interest is recalculated the next working day This means that you only pay interest on what you owe It s the fairest way of charging mortgage interest This reduces your mortgage balance without waiting for the end of the month or even the end of the year Interest only basis Nationwide no longer offers new mortgages on an Interest only or part and part basis If you are an existing customer with an Interest Only element to your mortgage please contact us to discuss your borrowing requirements You may also be interested in Standard Legal Services Moving your mortgage from one lender to another can result in having to pay legal costs But when you move your mortgage to Nationwide we ll pay these costs in most circumstances Green Home Guide Do you want to live a more eco friendly existence There is a wealth of information out there so we ve put together this helpful guide to give you a head start Mortgage glossary The words and phrases often used in the mortgage market or house buying process can often be full of jargon and sometimes complicated We ve listed out the most common ones in our mortgage glossary to help provide clearer definitions Show all expandable content Hide all expandable content A select to show or hide related content Accessibility Accessibility is the degree to which a product device service or environment is available to as many people as possible We are committed to ensuring that all our products and services are easily and equally accessible to all our members enabling disabled people to conduct their business with us without difficulty Additional Borrowing Sometimes called a further advance This is the term used when an existing mortgage customer wishes to increase their mortgage borrowing which can be done 6 months after the main mortgage loan has completed Additional borrowing is often used to fund home improvements but can be taken for any purpose except capital raising Add fee to loan You can add the product fee to the loan and spread the cost over the remaining term of the mortgage Advice A recommendation to enter into or vary the terms of an existing mortgage based on your individual needs and circumstances Agreement in principle An initial document from your lender that gives you an idea of the amount they are likely to lend you This certificate is not a guarantee but is often needed when dealing with estate agents so they have an idea of the size of your mortgage and if you can afford the property Also known as a lending decision or decision in principle Annual Equivalent Rate AER AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and compounded once a year Arrangement This is a temporary agreement for those who have previously had payment difficulties allowing you to pay more than the normal monthly payment This allows you to pay arrears or the shortfall that arose during a period when you were making concessionary payments without incurring any charge for overpayments which might otherwise arise under the terms of an early repayment charge B select to show or hide related content Bank of England Responsible for issuing bank notes and maintaining a stable financial economy the Government bank and also a lender for commercial banks Banker s draft also known as a counter draft A cheque drawn on the bank or building society itself against either a cash deposit or money taken directly from your own bank account A banker s draft is a secure way of receiving money from someone you don t know and where cash is inconvenient Banker s drafts are commonly used for large purchases such as homes and cars Base rate The interest rate set by the Bank of England Monetary Policy Committee which is used as a benchmark by lenders to set their own rates which would generally be higher This is reviewed each month throughout the year and can fluctuate go up and down Base Mortgage Rate A variable rate guaranteed to be no more than 2 percent above the Bank of England base rate You have the flexibility to make overpayments without incurring an early repayment charge The Base Mortgage Rate is not available for new mortgage deals and only applies to customers coming to the end of their deal where the product was reserved on or before the 29 April 2009 If you choose to switch to a new Nationwide mortgage product the new product will currently revert onto our Standard Mortgage Rate SMR not the Base Mortgage Rate BMR The SMR has no upper limit or cap and you wouldn t be able to revert to the BMR at a later date Bridging loan A special type of loan which is taken out to overcome a short term cash flow problem usually needed when you buy a property before you sell Borrow Back A feature of a mortgage where any overpayments made may be withdrawn and borrowed back Any overpayments will have already reduced the balance outstanding so when it is borrowed back the balance will increase Interest will be charged on the higher balance and monthly payments will also increase All requests to borrow back overpayments are subject to an eligibility assessment and current lending criteria Consent from all applicants is required Not all of our products have the borrow back feature for example Consumer Credit Act 1974 regulated accounts do not benefit from this feature All mortgages reserved on or before 3rd March 2010 include the option to borrow back subject to eligibility Any mortgages reserved after this date do not include this facility Buildings insurance This is insurance cover for a building which pays out an insured amount in the event of a claim for an insurable event under the policy terms such as fire flood and wind In most cases buildings insurance is needed as part of a mortgage terms Buy to let mortgage Specific mortgages that are aimed at those that buy property to rent out C select to show or hide related content Capital The amount of money you have actually borrowed or still owe on your property not including interest or other charges Capital Gains Tax A Capital Gains Tax is a tax on the gain or profit you make when you sell give away or otherwise dispose of something It applies to assets that you own such as shares or property There s a tax free allowance and some additional reliefs that may reduce your Capital Gains Tax bill Sometimes you may have no tax to pay Capital and Interest mortgage Where you pay off part of the capital amount borrowed as well as interest each month as opposed to interest only This usually means that everything capital and interest will have been fully paid off by the end of the agreed term Also known as a repayment mortgage Collateral Something of value that is given as a guarantee to the lender that you are able to pay back the loan in the case of mortgages it is the house itself Completion mortgage The final stage of the sale when the ownership changes hands from the seller to the buyer Consent to Let Permission from your mortgage provider will be required if you wish to let rent out your property if your current mortgage is arranged on a residential basis Construction Type The material used to build the wall of the insured property i e brick or other material Contract Variations Varying the terms of an existing mortgage for example reducing extending the term or converting the repayment type Conveyancing The process of transferring ownership from one person to another Credit rating Credit rating is a rating system used by financial institutions to judge an individual or company s creditworthiness Depending on how many points the applicant gets when his her personal details are run through the rating system the financial institution will either accept or reject the risk Financial institutions rely on computerised credit rating systems and co operate with each other in providing details of bad credit risks Credit reference agency Credit reference agencies are organisations that gather information about people and businesses across the UK This information comes from lenders such as banks credit card companies and fraud prevention agencies as well as records in the public domain Credit report Credit report is a report issued by a credit agency usually for a small fee which highlights someone s past purchase behaviour and credit rating Credit scoring Credit scoring is a way of assessing someone s financial status This is used to decide which credit facilities can be offered to customers Credit search A credit search is when we carry out a search with a credit reference agency to help us understand more about your credit history Each time a search is done it is noted on your credit record to let other organisations know that we have asked for information about you D select to show or hide related content Daily Interest Where your interest is calculated daily which means you only pay interest on what you owe Debt Consolidation Taking out one loan to pay off a number of other debts You may be able to spread the loan over a longer period which may reduce your monthly payment but by increasing the term you may pay more interest overall It may be possible to increase your mortgage or personal loan to pay off debts but it s important to seek advice before doing this You need to think very carefully before securing other debts against your home as your home may be repossessed if you do not keep up repayments on your mortgage Direct Debit A Direct Debit is an agreement between you and a company you want to pay on a regular basis The agreement you make authorises the company to collect varying amounts from your account on a regular basis Because you re covered by the Direct Debit Guarantee the company should always tell you what these amounts are and when they ll be collected E select to show or hide related content Early Repayment Charges If you repay a loan or a mortgage early or make an overpayment of more than your overpayment allowance an early repayment charge may be payable Equity The monetary difference between the current market value of a property and the mortgage loan held against that property Execution Only Mortgages A mortgage transaction completed by a firm upon the specific instructions of the customer where the firm does not provide advice relating to the suitability of the mortgage transaction Exit fees also known as redemption charges Charged by some lenders when you exit a credit agreement early F select to show or hide related content First Time Buyer A person buying their first property Fixed rate mortgage A fixed rate mortgage provides the security of fixed mortgage repayments until the end of the deal period no matter what happens to interest rates Flexible features Nationwide offers the following flexible mortgage features as standard Overpayments This is when you pay more than your required minimum monthly payment and build up an overpayment reserve This enables you to pay off your mortgage earlier save interest or make underpayments in the future conditions apply Switch and Fix Our tracker products offer the option to switch to a fixed rate within our Switch and Fix range at any point in the deal period without paying Early Repayment Charges on the tracker mortgage Payment holidays For mortgages reserved on or before 3rd March 2010 you can apply for a payment holiday of between three and twelve months if you have had a mortgage for more than one year and your mortgage is less than 80 of the value of your home at the end of your payment holiday conditions apply Any mortgages reserved after this date will no longer include this facility Borrow back For mortgages reserved on or before 3rd March 2010 you can apply to borrow back a lump sum from your overpayment reserve Any mortgages reserved after this date will no longer include this facility Forces Help to Buy This scheme allows eligible members of the Armed Forces to apply for an advance of pay up to 50 of their salary to a limit of 25 000 which can be used towards their deposit This is then paid back over a period of up to 10 years through their monthly salary The pilot scheme is running for three years and is intended to encourage home ownership amongst eligible Armed Forces personnel Freehold Where the sale includes the property and the land on which the property is built and you have complete ownership of both for an unlimited time G select to show or hide related content H select to show or hide related content Higher Lending Charge Some lenders impose a Higher Lending Charge if you only have a small deposit At Nationwide we don t Home Insurance This is a type of property insurance that covers a private residence It is an insurance policy that combines various personal insurance protections which can include losses occurring to one s home its contents loss of use additional living expenses or loss of other personal possessions of the homeowner as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory Premiums and payments are not linked to your mortgage and are payable to a separate policy Home Mover A person selling one property and purchasing another property I select to show or hide related content Interest Rates Borrowing This is the rate at which the lender calculates the interest they charge the borrower expressed as a percentage Saving This is the rate at which is paid to an investor for money that they have invested in a savings account Interest only mortgage With interest only mortgages your monthly payments only cover the interest on the amount you owe so you re not reducing the outstanding sum each month You will need to put additional money aside to repay your mortgage at the end of the term for example into an investment such as an endowment policy or ISA L select to show or hide related content Land Registry A Government department that records registered land in the UK or ownership along with details of that land such as mortgages or sales Legal Interests Someone who has a financial interest in your property such as a mortgage provider Lending Into Retirement When the mortgage term exceeds beyond the customers retirement age Liabilities These are the debts you owe to creditors which may include your mortgage car loan credit card debt etc Loan to Value LTV The loan to value represents the amount you are looking to borrow or the remaining amount of your existing mortgage as a percentage of the value of the property For example if a property is valued at 100 000 and you have a 80 000 loan the LTV is 80 80 000 100 000 x 100 80 M select to show or hide related content Mortgage Payment Protection Insurance MPPI This insurance can cover your mortgage payments if you can t work because you ve become unemployed or can t work because of an accident or illness N select to show or hide related content New Build Property The definition of a new build means a property that has not been occupied within two years of being newly constructed converted or refurbished No Extended tie ins You won t be tied in to any extended Early Repayment Charges Notice of default Legal notice given by the mortgage lender detailing a payment default missed payments by the borrower This notice will also contain details of the steps the borrower must take to pay this off and by what date otherwise the property may be taken over by the lender see Claim for possession O select to show or hide related content Offset mortgage A type of mortgage that allows you to save on the interest you will pay on your mortgage debt by offsetting any savings you or perhaps family friends have linked to your mortgage For example if you have a mortgage of 120 000 and put savings of 20 000 with your lender in this type of mortgage you would only pay interest on 100 000 Overpayments This is when you pay more than your required minimum monthly payment and build up an overpayment reserve This enables you to pay off your mortgage or personal loan earlier or make underpayments in the future conditions apply P select to show or hide related content P a Per Annum which means each year Part and part mortgage Where you choose to split your loan so that you repay part of it on an interest only basis and part of it on a repayment capital and interest basis each month Payment holidays For mortgages reserved on or before 3rd March 2010 you can apply for a payment holiday of between three and twelve months if You ve had your mortgage for more than one year and Your mortgage is less than 80 of the value of your home at the end of your payment holiday conditions apply If you want to find out more information or apply for a payment holiday please call us on 08457 30 20 10 Permanent Resident To be considered a Permanent Resident of the UK you must have Indefinite leave to remain in the UK and you should consider the UK as your home Porting Most of the mortgage products available through Nationwide are portable which means that they may be transferred from

    Original URL path: http://www.nationwide.co.uk/products/mortgages/new-customer-remortgaging/help-and-guides (2016-02-09)
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