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Poll: Brokers divided over Nationwide letting rate rise

  • 06/08/2010
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Last week’s Mortgage Solutions poll found brokers were split over whether Nationwide is right to charge customers more for letting out their homes.

Nationwide has announced that from September this year it will raise interest rates by 1.5% for residential mortgage customers who choose to let out their homes for longer than six months on new lets.

Those currently letting out their homes will see their mortgage rates increase once they have done so for three years or more. Nationwide said the move was taken to due to the higher risk and cost of such borrowers.

Yet, whether this is a fair move by Nationwide split readers down the middle, with 44% saying the building society was right to take such action and 42% believing the move was unfair.

Just 14% were undecided either way.

This week’s poll asks: Following the debacle, where it claimed 90% of the best deals were direct-only and then retracted its figures, do you feel threatened by comparison websites and how vocal they are in the consumer press?

Have your say in the poll.

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