02 Aug 2022

Nationwide increases maximum mortgage for those borrowing up to 90 per cent Loan-to-Value

  • New maximum loans up to £5m available from 3 August across standard five-year product range
  • Maximum loan-to-income increased to 5.5x for high earners on house purchase applications

Nationwide Building Society is extending the maximum loan size available to those looking to borrow up to 90 per cent Loan-to-Value (LTV) on a fee or no-fee five-year fixed rate mortgage.

The following are the maximum loan sizes1 available, effective from Wednesday 3 August:

  • Up to 75% LTV: £5 million (up from £2 million)
  • 80% LTV: £1.5 million (up from £1 million)
  • 85% LTV: £1.5 million (up from £750,000)
  • 90% LTV: £750,000 (up from £500,000)

The maximum loan for those borrowing at 95% LTV remains at £500,000.

Maximum Loan-to-Income for house purchase applications

Nationwide is also further increasing its support for homeowners by allowing those making a mortgage application2 for a house purchase to borrow up to 5.5 times their income as long as the total eligible income is more than £100,000. This is available when taking a two, five or ten-year fixed or two-year tracker mortgage.

First-time buyers also continue to have access to Nationwide’s Helping Hand proposition that allows them to borrow up to 5.5 times their income when taking one of the Society’s five or ten-year fixed rate mortgages. The revised maximum loan sizes will also be available when taking a five-year fixed rate.

Henry Jordan, Director of Mortgages at Nationwide Building Society, said: “With house prices continuing to rise, the need for a larger loan has become even more prevalent. As one of the UK’s largest lenders and the biggest building society, it’s important we do all we can to support people purchase their first or next property. The increases we’ve made to the maximum loans we’ll provide at various LTVs brings us in line with other lenders and increases options for borrowers.

“We know that the ability to borrow enough continues to be a significant hurdle to homeownership, which is why we’ve increased the maximum loan-to-income on house purchase applications. Alongside our Helping Hand offer for first-time buyers, we believe Nationwide continues to provide a compelling proposition for first-time buyers and home movers alike.”


Notes to editors

1 Not applicable for switchers, mortgages for over 55s and Green Additional Borrowing. Maximum loan sizes remain at current levels.

2 Employed applicants only. This change is not available to self-employed borrowers or equity share.