Mortgage Cock Up by Nationwide, what to do next?

[artyfaharty]

In Feb 08 our fixed rate came to an end, sensing some change in the economic climate I could not decide what to do and so left it on the standard variable which at that time was 6.99%
The Nationwide however put us on a fixed rate of 6.08 for two years without either asking us or sending any notification. I wasn't paying attention, and didn't notice this until November/December when the expected payment cuts were not done.
I let them know and they have now come back, admitted the error and say that we can go back to the Variable rate which is at the moment 3.5%..  BUT......
They want us to pay the difference on the payments from last Feb (6.99) dropping gently to November at 6.19% and then to 4.00% in December.
We'll be better of to the tune of £150 from now on, they haven't told us how much we owe them for their cock up.

Does the team think I should kick up a stink, indeed would they expect me to get stroppy or even take it further or do I just lie down and take it, hoping that their rate stays at 3.5% for a while.

The mortgage is sadly about 100k !
Thanks for your thoughts

[Martin]

I'd go for whatever personally lands you the best deal; Nationwide (my lender) are IMO completely transparent and not out to rip you off; if it's their oversight they'll do the decent thing. Their small print on my fixed rate clearly states when it will revert to the SVR (to think that we rued this date even a couple of years ago when variable rates were a good couple of percent above the fixed  )

My fixed rate with them runs out in just over a year and if rates stay as they are I'll be hammering on their door to get the SVR ASA the fixed rated finishes (or even 90 days before which I've heard elsewhere)

[Mrs Pingu]

<snip>
My fixed rate with them runs out in just over a year and if rates stay as they are I'll be hammering on their door to get the SVR ASA the fixed rated finishes (or even 90 days before which I've heard elsewhere)

Oh, really??

[Martin]

<snip>
My fixed rate with them runs out in just over a year and if rates stay as they are I'll be hammering on their door to get the SVR ASA the fixed rated finishes (or even 90 days before which I've heard elsewhere)

Oh, really??

apparently; but they may have pulled up the drawbridge

nationwide fixed rate mortgage - end it 3 months early - MoneySavingExpert.com Forums

[PaulR]

We've found Nationwide to be eminently fair about such things.  We had been fretting about our fixed rate deal coming to an end last year, believing that the SVR would be very expensive and bemoaning the fact that fixed rate deals had become much more expensive.  We were bracing ourselves for our monthly payments going up by £130 when everything went wobbly.  In the meantime we had applied and been approved twice for fixed rate deals that had a reservation fee of £299, but when our existing fix ended we took advantage of the massive drop in the SVR.  What we didn't realise until we got our annual statement the other week was that they'd added the two reservation fees to our outstanding mortgage balance, even though we'd not in the end signed up to the fixed rate offers.  But when I phoned them, they were very co-operative and immediately acknowledged their error and arranged for the fees to be refunded.

So persist - I find it hard to believe that they'd have used any tricksy small-print to force you onto a fixed rate on expiry of your existing deal - their bumph has, as long as I can remember, always said that the rate reverts to the SVR at the end of your fixed period, not onto some other product of their choosing.