This month saw Nationwide Building Society launch a range of self-funded 95% mortgages, its first since 2008. (That is to say the limited 95% loans offered recently have been insured and backed by the Government Help to Buy 2 scheme).
In the past when lenders have launched 95% deals, you get the impression it’s for the headlines, rather than the actual lending. We have found that even the best customers in highly paid jobs have failed to pass the 95% score, and are offered a 90% deal instead.
Early signs however show that this doesn’t seem to be the case with Nationwide as Mortgage Required have submitted a number of successful 95% applications during September.
The products start at 3.99% which is extremely competitive and first-time buyers also receive £500 cashback when they move.
The lender says it has earmarked an additional £1bn in lending for the range over the next year, which firmly endorses their willingness to lend at this level.
Nationwide join The Principality, Santander, TSB, Woolwich, Clydesdale, Virgin, Accord and Halifax in this sector which shows lender confidence returning to the riskier end of the lending mortgage market.
For more information contact us or call 01628 507477 to speak to a mortgage adviser.
Recent posts
The government has announced plans to make buying or selling a home cheaper and quicker with what is being called the “biggest shake-up to the homebuying system in this country’s history.”
More borrowers using equity release
7 days ago
Almost one in five equity release mortgages are now taken out to provide financial support to family.
Buyers purchasing properties sooner
9 days ago
According to industry data, the expected wait for those looking to buy a property has dropped from just over 11 months to less than six months.
It is common for your first mortgage payment to be higher than your subsequent monthly payments for two reasons.
What to do just before you get your keys
14 days ago
Firstly, a big congratulations, you’ve now exchanged contracts! After weeks and months of waiting, you are about to move in. What should you do first?
The chancellor will deliver her second budget this autumn. Due to slow economic growth and high inflation, the government need to manage a £40 billion shortfall in public finances. There have already been reports about changes to taxes including income tax and capital gains tax.
Landlords could face a new tax this autumn
29 Aug 2025
The chancellor has advised that landlords could have another tax to pay this autumn as the Treasury decide whether to extend national insurance contributions to rental income.
According to a report in the Guardian, senior ministers have asked Treasury officials to look into a “proportional” property tax to see how it would work as an alternative to the existing stamp duty land tax on owner-occupied homes.
More information
Trusted by
