The Nationwide Building Society has been accused of ditching their pledge to offer the same mortgages deals to existing customers as they do to new ones.
The accusations follow new guidelines set out by Nationwide where by existing customers who want to remortgage will have to pay between 0.1 per cent to 0.25 per cent over the rates charged to new customers.
Critics see this move as betraying individuals who chose a Nationwide mortgage on the expectation that the promise of equal rates for new and existing customers would hold. Despite the news, Melanie Bien at broker Savills Mortgage Finance said the repricing was "very surprising", although still competitive.