Nationwide will assess typical property risks on a listing, such as flooding or short lease lengths, to check if it would be likely to lend on the property.
Previously, by applying for a mortgage in principle, a buyer could find out how much they would likely be able to borrow from a lender, but not whether the specific home they wanted to view was likely to be eligible for a mortgage.
The launch comes as part of Rightmove’s goal to digitise more of the UK property market and speed up the home moving process and make it more efficient for agents and movers.
It’s the second collaboration between the property portal and the building society, which follows the launch of Rightmove’s mortgage in principle, which is powered by Nationwide.
Matt Smith, Rightmove’s head of mortgages, said: “This is the next step in our mission to digitise more of the UK property market – the ability to give homemovers a real-time view of whether they are likely to be able to get a mortgage on a specific property.
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“Our ambition is to build digital solutions that make the home buying process more efficient, giving buyers a better understanding of their affordability much earlier. This is a first roll-out phase, and we’ll be making lots of enhancements to the property lending check over the coming months.”
In her blog for Mortgage Solutions, Beth Rudolph, director of delivery at the Conveyancing Association, discussed the progression of the sector’s move towards being a data-led housing market.
