Which?: Nationwide rate rise may breach consumer rules

Its concerns relate to Nationwide's decision to raise interest rates 1.5% for residential mortgage customers who let out their home. Nationwide plans to introduce the rate rise from 1 September this year for customers who have let out their home for three years or more. It said the increase reflects the higher risk and cost posed by such borrowers. Which? wrote to Nationwide in June regarding the matter after being contacted by affected members. It believes the decision is unacceptable and seriously affects people who signed fixed-term deals and will now see their rates rise part way ...