Nationwide mortgage lending criteria

We have not verified the information with the lender. You should not rely on this information. If you have an area of concern then please ask us.

Nationwide mortgage lending criteria

Mortgage Advances

Up to £2,000,000 75% LTV

Notes

Illustration Type = ESIS.

Mortgage NOT portable, Mortgage is Flexible, Under payments allowed., Overpayments allowed.

Porting is not available as part of this change, any existing customers moving home that are looking to port onto Interest

only would not be able to access the Interest Only product range, however they can continue to port their existing

repayment basis. Any additional borrowing taken out as part of that application would need to be part of a Repayment

basis.

Switch and Fix feature. When this product is taken customers have the option to switch to a

fixed rate at any time during the deal period without paying early repayment charges.

Standard Valuation fees for Nationwide are £0, unless the applicants require a Home Buyers report then a fee will apply.

Please refer to Nationwide directly for details.

Green Cashback:

If you are purchasing an energy efficient property, you may be eligible for a Green Cashback of up to £500, payable

within 4 weeks of completion of your mortgage.

To be eligible for the cashback;

1) the property must have a Standard Assessment Procedure (SAP) rating as follows:

a) properties rated 86 to 91 - £250 cashback

b) properties rated 92 and above - £500 cashback

2) the SAP rating must be listed on the government register within 2 weeks of completion of your mortgage.

Details of the SAP rating can be found on the Energy Performance Certificate (EPC). The Green Cashback is in addition

to any other cashback’s listed here that you may be eligible for.

An 'overpayment' is any payment in addition to the normal monthly payment as quoted in section 6 above and also in

addition to any arrears balance currently outstanding. Payments of capital included in your overpayments will reduce the

amount on which we charge interest from the day after payment.

This mortgage is available up to a maximum of 60% of the property's valuation.

Capital Rest Period : Daily

Repayment Types

Repayment

Endowment refer

PEP refer

Pension refer

Interest only (no RV)

With Profits refer

Unit Linked refer

ISA refer

Split Repayment Yes

Fees

Arrangement : £varies Can be Added

Booking : None

Early Repayment Charges

None

Higher Lending

None

Valuation

Basic:

Free

Homebuyers:

up to £50,000 - £225

up to £100,000 - £225

up to £150,000 - £275

up to £200,000 - £275

up to £250,000 - £325

up to £300,000 - £325

up to £350,000 - £375

up to £400,000 - £375

up to £450,000 - £425

up to £500,000 - £425

up to £600,000 - £450

up to £700,000 - £500

up to £800,000 - £550

up to £900,000 - £600

up to £1,000,000 - £650

up to £1,500,000 - £700

up to £2,000,000 - £800

up to £2,500,000 - £1000

up to £3,000,000 - £1250

up to £3,500,000 - £1500

up to £4,000,000 - £1700

up to £4,500,000 - £1850

up to £5,000,000 - £2000

up to £6,000,000 - £2250

up to £7,000,000 - £2750

up to £8,000,000 - £3500

up to £9,000,000 - £4500

up to £10,000,000 - £6200

Lender Conveyancing Fee - £129.75 Payable on completion. The figure quoted here is an estimate - the total fee for

conveyancing may be higher. Fee payable to your conveyancer.

Redemption Charge - £65.00 Payable on early redemption. A non-refundable administration fee may be payable to

Nationwide when you repay the mortgage. This fee will not be payable if, at any time of this mortgage, you take out a

new Nationwide mortgage or you have 10 years or less remaining of the original term of this mortgage.

Added Mortgage Fees - £0.00 Payable upfront. Nationwide Building Society reserves the right to collect from you any

fees you have opted to add to the loan if the mortgage does not complete or if you change products.

Acceptable Property Types

Freehold Flat Refer

Purpose Built Flat Refer

Converted Flat Refer

Flat Over Shop Refer

Maisonette Yes

Studio Flat Refer

Flying Freehold Refer

Thatched Yes

Timber Framed Refer

Concrete Refer

Agricultural Tie Refer

Flat Over 4 Storeys Refer

Listed Building Refer

Right to Buy

Max Discount% 100

Max Market Value% 95

New Build acceptable. For lending on New Build Flats the max LTV is 75%. For lending on New Build houses the max

LTV is 85% up to £750k and 80% up to £1m.

Accepted Locations : England, Scotland, Wales, N Ireland

Shared ownership : Accepted

Requirements

Bank Statements No

At Least 3 Months Pay Slips Yes

P60 Yes

Proof Of Residency No

Life Policy To Be Assigned No

Previous Lender References Yes

Insurance

Buildings Conditional

Conditions

Min Loan £25,000

Max Loan £1,000,000

Max Portfolio of BTL Loans none

Min Age 18 years

Max Age 75 years

Min Term 1 years

Max Term 40 years

The list products will be available as Repayment or Interest Only, if Interest Only is selected the applicant can only have

the Sale of Main Residence as its repayment vehicle as no other options are applicable in this instance.

Furloughed Applicant's: Check Lender Note's (payslip section) or Check with the Lender

Foreign Citizens Refer

Ex-Patriates Refer

Income

Based on Income > 0

4.75 + 0 or 4.75 joint

Min months in current position none

Min months in continuous service none

Min no. of years accounts 2

Average years taken to calculate income 2

Will consider declining profit Yes

Outgoings

Lending based on affordability - please refer to Nationwide website www.nationwide-intermediary.co.uk for affordability

calculator.

Self-employed capped at maximum 4.75 times income and 85% LTV

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft Taken into account

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 50% to income before multiply

Other Income - Irregular No

Investment Income Add 25% to income before multiply

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments Add 100% to income before multiply

Non Contributory Pension No

Car Allowance Add 100% to income before multiply

Remortgage Max LTV Max% increase

Remortgage Not Available

Adverse Credit

CCJs : Refer to lender

Defaults : Refer to lender

Arrears : Refer to lender max months 3

Bankrupt : Refer to lender

Current IVA : Refer to lender

Repossession : Refer to lender

An application may be referred if either applicant has exceeded 3 months

arrears in the last 3 years.

Credit reference must cover all addresses for all parties for the last three years.

Normally the applicant should have no CCJs although one satisfied CCJ under £250 can be accepted (Scotland: Sheriff's

Court Decree).

We will consider lending to applicants with current/previous CCJs/Defaults. Dependent upon value and date registered.

May be subject to a senior underwrite.

IVAs & Bankruptcy, Arrears & DMPs are considered where discharged for at least 3 years. Subject to senior underwrite.

- The Lender will judge customers with previous or existing adverse credit in a flexible manner and every case will be

judged on its individual merits, along with the customer's ability to keep up repayments on the mortgage, taking into

account his/her existing liabilities.

- The Lender will consider cases of financial difficulty and mortgage arrears sympathetically.

- The general principles of the Council of Mortgage Lenders' Statement of Practice on Handling Arrears and

Possessions, including :

a) with your co-operation, developing a plan with you for dealing with your financial difficulties and clearing the arrears,

consistent with both your interests and those of the Lender.

b) possession of your property will be sought only as a last resort when attempts to reach alternative arrangements with

you have been unsuccessful.

For secured and unsecured personal loans, hire purchase and deferred purchase agreements, we will disregard the debt

if it has 6 months or less to run