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.
Further Advance Lending available via Intermediaries
We know how important it is for you to be able to support your clients long term. So, we’re pleased to announce that from Tuesday 1 December, you’ll have access to our standard Further Advance range for your clients.
So, if your client already has an existing residential mortgage with Nationwide, you’ll soon be able to submit additional borrowing applications on their behalf via NFI Online.
Here’s what you need to know
- How much we can lend depends on how the client intends to spend the money (click here for further details).
- A full new business procuration fee will be paid for Further Advance applications – a minimum of £100.*
- The minimum loan is £10,000, unless for home improvements in which case it’s £5,000.
- The minimum mortgage term will be two years and the maximum will be 40 years.
- Initially, where your client wants to complete a rate switch and apply for additional borrowing, you’ll need to complete two separate applications.*
Further information is available on our webpage and rate details will follow next week.
* Please note procuration fees for product transfers remain unchanged.