Nationwide remortgages promise best deal

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Nationwide remortgages promise best deal

Nationwide has pledged that, if customers find a better remortgage deal with their existing lender, the bank will give them £100.

The lender warns that homeowners are facing massive increases in their monthly mortgage repayments as almost 200,000 fixed rate deals come to an end this summer and is so confident it can save money for borrowers facing "rate shock" that it has made the ambitious pledge.

Nationwide promises that, if customers with Abbey, C&G, Halifax, HSBC, Natwest and Woolwich can find a better deal with their existing lender it will reward them with £100. The lenders named represent 50 per cent of the mortgage market.

Stuart Bernau, Nationwide director, said that Nationwide offered the most competitive range of mortgage deals for both new and existing borrowers.

"Take the Nationwide Mortgage Challenge and you'll benefit from lower monthly repayments or we’ll give you £100 cash. You really can't lose!" he promised.

Nationwide makes all of its new mortgage products available to existing borrowers, subject to their existing terms and conditions.

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