Nationwide increases maximum remortgage LTV to 90%

From tomorrow, Nationwide is increasing the maximum LTV for customers remortgaging from other lenders on a like-for-like basis from 85% LTV to 90%.

Related topics:  Mortgages
Rozi Jones
31st October 2016
Nationwide, bank
"This will be particularly useful for first time buyers who bought with a smaller deposit and are now looking for a lower rate at the end of their current deal."

Rates for the two-year 90% LTV remortgage product start at 2.39% with a £999 fee and 2.79% with no fee. There is also a three-year product option, starting at 2.74%, and 5 year products at 3.19% with a £999 fee and 3.39% with no fee.

Remortgage customers are able to benefit from a free standard valuation and the choice between free standard legal work and £250 cashback.

The Society recently introduced additional benefits for both first time buyers and home movers. All standard mortgage valuations are now fee-free, while first time buyers receive a £500 cashback to help with the cost of moving. Nationwide Flex main current account holders who are taking out a Nationwide mortgage are also eligible for an additional £250 cashback.

Existing Nationwide mortgage customers switching to a new mortgage deal or moving home will also receive a £250 cashback, in addition to continuing to benefit from a 0.10% discount on new customer rates.

Henry Jordan, Nationwide’s Head of Mortgages, said: “We are extending our range of remortgage products to 90% LTV in response to growing demand and to help the most customers possible. This will be particularly useful for first time buyers who bought with a smaller deposit and are now looking for a lower rate at the end of their current deal.

“With the combination of competitive rates and access to additional benefits, Nationwide will continue to offer mortgage deals that are amongst the best on the high street.”

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