Nationwide has made improvements to the borrowing limits for self-employed people.
The mutual has increased the maximum loan to value (LTV) available to 95 per cent from a previous limit of 85 per cent.
This will be open to self-employed borrowers who are moving or buying their first home. Those who are remortgaging will be able to access Nationwide’s entire remortgage range which is available up to 90 per cent LTV.
The maximum loan to income (LTI) has also been raised from 4.49 times income to 5.5 times income.
Henry Jordan, director of home at Nationwide Building Society, said: “Having changed our lending policy for self-employed during the pandemic, we believe now is the right time to increase our support by extending our maximum loan-to-value available to them to 95 per cent.
“We’re committed to supporting self-employed borrowers as much as we can, which is why we’re also increasing the amount that they can potentially borrow with Nationwide to 5.5 times income.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
