Here is the latest update from Nationwide Building Society. For full details see their latest product information here. Access these product via our direct to lender mortgage club and get the benefits of payment on completion.
Interest Only Home Purchase and Amend Case functionality
Interest Only – Home Purchase
Designed to support your clients looking for mortgage flexibility and initially only available through intermediaries – Interest Only applications are now accepted for existing home owners moving home.
Key criteria includes:
- A maximum of 60% LTV
- Maximum 25 year term or planned retirement age, whichever is lower
- Minimum income requirements of £75,000 for individual applicants or £100,000 for joint income applications. For full details click here.
- Minimum equity requirements based on region
- Sale of main residence as repayment strategy
NEW Amend Case functionality
You can now make many amendments to a case without needing to call us, including:
- Purchase price
- Loan amount
- Deposit details
- Product
Click here for more detail or download the keying guide for further guidance