Nationwide Mortgages & Criteria

Nationwide publishes residential lending up to 95% LTV for eligible cases, equivalent to a 5% deposit. Maximum LTV depends on the property, mortgage purpose, loan size and product. Lower limits can apply, including to some flats, second properties and interest-only mortgages.

Nationwide’s published maximum loans are £5 million at 60% or 75% LTV, £2 million at 80% or 85% LTV, £1 million at 90% LTV and £750,000 at 95% LTV. These are upper limits, not borrowing guarantees; product and underwriting restrictions apply.

Nationwide assesses affordability using income, expenditure, commitments and the proposed mortgage. Eligible new home movers and remortgagers borrowing additional funds with at least £75,000 qualifying income may be considered for up to six times income. Some existing Nationwide borrowers may also qualify for up to six times income under separate rules. Actual borrowing depends on affordability and eligibility.

For some eligible home movers and remortgage customers, Nationwide may offer extra affordability flexibility on 5- to 10-year fixed-rate mortgages. Published criteria include minimum income of £40,000 for a sole applicant or £70,000 for joint applicants. Scheme and non-standard ownership applications are excluded; meeting the criteria does not guarantee acceptance.

Yes, subject to assessment. Nationwide generally asks for the latest two years’ self-employment income evidence, such as HMRC tax calculations and tax year overviews or an acceptable accountant’s certificate. Some documented exceptions exist. Sole traders and partners are generally assessed using the lower of the latest year’s profit and the two-year average.

Company directors treated as self-employed generally need two years’ income evidence. Nationwide normally uses the lower of the latest year’s salary plus dividends and the two-year average. Directors with 20% or lower shareholdings may be treated as employed where payslip income supports the application. Exceptions and additional checks can apply.

Nationwide states a minimum age of 18 and a maximum age of 75 for new borrowers, with a maximum retirement age of 70 under its standard criteria. Different rules may apply to existing borrowers, porting and lending into retirement; these must be checked for the individual case.

Nationwide publishes a maximum mortgage term of up to 40 years, subject to age, retirement, affordability and product requirements.

Nationwide lists a minimum loan of £25,000 for new customers moving home or remortgaging, and £5,000 for existing customers moving home or porting. Other product conditions may apply.

Nationwide credit-scores applicants, generally at Decision in Principle stage. The lender says this normally leaves a soft credit-search footprint; submitting the full application creates a hard footprint. Acceptance depends on its detailed adverse-credit criteria and individual assessment.

Yes, subject to new-build criteria and product availability. Nationwide’s published maximum LTV is 95% for new-build houses and 85% for new-build flats. Construction, warranty, valuation and other restrictions may apply.

Nationwide publishes different LTV limits for flats according to lease length and whether the case is a purchase or remortgage. For example, non-new-build flats with at least 90 years remaining can have up to 95% LTV on purchase or 90% on remortgage; shorter leases can have lower limits. Full leasehold criteria also apply.

Nationwide considers some second-property applications. Its published maximum is 85% LTV where an applicant will own two or more mortgaged properties on completion, even if the new property will be their main residence. Property use and affordability restrictions apply.

Nationwide publishes shared ownership criteria, with up to 90% LTV and a minimum initial share of 25%, subject to the scheme, deposit rules and available products.

Nationwide allows additional borrowing for specified purposes, with purpose-specific LTV limits. Examples include up to 80% LTV for eligible debt consolidation and up to 90% for some structural home improvements. If there is more than one purpose, the lowest applicable LTV limit applies.

Nationwide says it lends on eligible properties in England, Wales, Scotland and Northern Ireland. Some islands and property locations are excluded or subject to special rules.