Nationwide is offering eligible homeowners who switch their mortgage to the building society a choice of £500 cashback or free standard legal fees. The offer targets customers whose current mortgage deal is ending, with the lender warning that staying on an expired deal could see monthly repayments rise sharply.
What the offer includes
The building society told customers: "When you bring your mortgage to us, you can choose between £500 cashback or free standard legal fees." The incentive is part of a push to encourage homeowners to explore their remortgaging options.
Further reasons to remortgage include borrowing additional funds for home improvements, consolidating existing debts, or releasing equity against a mortgage-free property.
Eligibility and limits
Nationwide says borrowers may be able to remortgage up to 95% of their property's value, though those seeking additional borrowing or with certain secured debts may be limited to 90%. All applications are subject to affordability checks and eligibility criteria.
Nationwide has millions of members across the UK. The offer is designed to encourage customers to consider switching before their current deal expires.
