Nationwide has tried hard to present itself as the customers friend in recent advertising, indicating that they treat existing customers just as well as new customers, unlike some other mortgage companies.

They do offer a range of attractive deals but like all mortgage companies at the moment you'll be hit by some fees along the way and some of them are pretty hefty! Take one of their current (Nov 2006) fixed rate deals which charges a whopping £1,499 "reservation fee".

Mortgages companies have already had their wrists slapped by the FSA for hiking up exit fees and the onus is still on the consumer to weigh up all the charges involved. Working with an independent broker may be more palatable. Whatever you choose, all companies are forced to work to FSA regulations which means they must show clearly all charges involved. So Nationwide's claim to have no hidden fees or charges is a bit daft - no company can!

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