You are here: Home - News -

Nationwide to increase LTV to 90% for remortgage customers

  • 31/10/2016
  • 0
Nationwide to increase LTV to 90% for remortgage customers
Nationwide will increase its maximum loan-to-value (LTV) to 90% from 85% for customers remortgaging from other lenders to the Society from tomorrow.

The two-year 90% LTV remortgage products will carry either a rate of 2.39% and come with a £999 fee or a rate of 2.79% and have no additional fee attached.

For its three-year options, the product will carry a rate of 2.74% and for its five-year product, a rate of 3.19% with a £999 fee or a rate of 3.39% with no fee will apply.

Remortgage customers will also benefit from free standard valuations and the choice of either free standard legal work or £250 cashback.

It comes after the recent introduction of Nationwide’s 95% LTV tracker product, as well as its existing 95% fixed-rate deals for homebuyers.

Existing Nationwide mortgage borrowers switching at the end of their current deal or moving home have access to the lender’s range of 95% LTV products.

Henry Jordan, head of mortgages at Nationwide, said the increase in LTV was a response to growing demand and was aimed to help customers as much as possible by offering competitive rates to customers.

He added the increase would be beneficial to first-time buyers who bought with a smaller deposit and are now looking for a lower rate at the end of their current deal.

There are 0 Comment(s)

You may also be interested in

Read previous post:
Broker fury over Santander’s move to attract clients to switch six months early

Santander has sparked fury among brokers by writing to their clients six months ahead of the expiration of their mortgage...