News

• Rates cut by up to 0.26% with Nationwide’s lowest rate now 3.78%

Nationwide Building Society is reducing rates across the majority of its fixed rate mortgage products by up to 0.45 percentage points, with the new rates effective from tomorrow, Wednesday 11 October.

Nationwide Building Society will reduce its fixed rates for existing members switching to a new deal by up to 1.30% from 1 November.

Nationwide Building Society is amending its fixed mortgage rates, effective from tomorrow, Friday 30 September.

From Wednesday 28 September, Nationwide Building Society is amending its fixed and tracker mortgage rates.

• Just 22% of landlords support proposal to end Section 21 ‘no fault’ evictions, research shows
• 62% supportive of National Landlords Register but 53% say it won’t deter rogue landlords
• Introduction of Decent Homes Standard garners most support amongst landlords

• 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

• Maximum loan-to-income increasing from 4.49x to 6.5x on like-for-like remortgages
• Change applies to remortgage applications started from today, Thursday 12 May
• Available to those looking to remortgage without taking any additional borrowing
• Society’s change makes it easier for borrowers to move lender to secure better mortgage deal

• 70% of hopeful homeowners delay purchases by average of nearly two years due to cost pressures
• 88% of prospective first-time buyers worried living costs are harming efforts to save deposits
• 48% reduce amount they save towards a deposit and 38% repurpose earmarked cash
• 69% willing to relocate to another part of the UK in order to get more for their money
• 65% say they need to buy with someone else to be able to afford a property
• Saving to move: 43% reduce socialising; 36% sell items and 12% shelve family plans
• Nationwide offers £500 cashback to first-time buyers who complete their mortgage with Society

• Society increases maximum Loan-to-Value available through Helping Hand mortgage to 95 per cent
• Helping Hand enables first-time buyers to borrow up to 5.5x income when taking 5 or 10-year mortgage
• Affordability boosted by 20% with a couple earning £50,000 able to borrow maximum of £275,000
• Helping Hand boost comes as affordability continues to be a major housing hurdle for many