The change, effective from today, means potential buyers will be able to apply for a Nationwide mortgage on a newbuild house with just a 10 per cent deposit.
As a building society founded to help people into a home of their own, Nationwide is always looking for new ways to make homeownership more accessible and affordable and increase the appeal of newbuild homes.
Ian Andrew, Nationwide’s Director of Intermediary Relationships, said: “As a mutual, we are committed to creating a vibrant and growing housing market and believe this change will demonstrate that we are fully behind the Government’s housing ambitions. By increasing our maximum loan-to-value on lending for new-build houses, we hope to help even more people into their first home or move onwards to their next.”
-ends-
