Nationwide said that where an applicant doesn’t have indefinite leave to remain in the UK, they will only need a minimum of 12 months remaining on their visa at the time their application is made.
This is down from the previous minimum requirement of two years and six months
Applicants with indefinite leave to remain will be able to borrow up to 75 per cent loan to value and will need to provide a full three-year address history.
Henry Jordan, director of home at Nationwide Building Society, said: “This latest change to our minimum visa validity requirement will increase the mortgage options available those applicants without indefinite leave to remain and bring Nationwide in line with the wider mortgage market.”
Skipton BS to accept up to 95 per cent LTV for new build flats
Skipton Building Society will accept applications of up to 95 per cent loan to value (LTV) for new build flats as part of its commitment to support more first-time buyers onto the property ladder.
Jonathan Evans, Skipton’s new build lead, said: “I’m really pleased to announce that I am going to be focussing on all things new build here at Skipton, we are constantly looking to make things easier for our brokers and their clients, from aiming to underwrite applications within 48 hours to our enhanced approach to incentives. I’m looking forward to continuing to listen to brokers and feed their ideas into our innovation here.
“At Skipton we understand the challenges in the new build market and the deposit hurdles facing prospective homeowners. That’s why I’m happy to announce that as of today we’re now supporting new build flats at 95 per cent LTV, unlocking more opportunities for homeownership.”
In the middle of October, these two building societies were voted best mortgage providers by consumer champions Which?.
