Qualified advisers answering your
Financial Questions
call 0800 092 1245

Dunfermline Building Society mortgage holders lose out

It has been confirmed that despite the Nationwide Building Society taking over the Dunfermline Building Society, Dunfermline customers will remain on their old standard variable rate of 5.19%. This is despite the fact that the Nationwide standard variable mortgage rate is just 2.5%, with a guarantee that it will never rise above two percentage points over base rates.

The Dunfermline rate is one of the most uncompetitive in the market place and the fact that customers are not being automatically transferred to the Nationwide rate has alarmed many. Despite assurances from the Nationwide Building Society that Dunfermline customers would "be better off" with the building society's new owner, there appears to be little to cheer about in the short term.

The argument from the Nationwide relates to the fact that the Dunfermline Building Society will for the moment retain its own identity and its own specific rates until it can be fully integrated into the Nationwide family. In the meantime it looks as though Dunfermline Building Society customers will suffer higher mortgage rates compared to those who take their mortgages through the Nationwide direct. This is not exactly the best public relations start for the new operation which has already attracted significant criticism from across the board.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details