This means that whether they are moving to a new home or purchasing their first home, self-employed borrowers will have access to Nationwide’s standard product range up to 95 per cent LTV. For those looking to remortgage to Nationwide, they will also have access to the entire remortgage product range (which goes to 90% LTV).
At the same time, Nationwide will be increasing the amount that self-employed can borrow by increasing the maximum Loan-to-Income (LTI) available to them to 5.5 times income.
Henry Jordan, Director of Home at Nationwide Building Society, said: “Having changed our lending policy for self-employed during the pandemic, we believe now is the right time to increase our support by extending our maximum loan-to-value available to them to 95 per cent. We’re committed to supporting self-employed borrowers as much as we can, which is why we’re also increasing the amount that they can potentially borrow with Nationwide to 5.5 times income.”