Mortgage customers allowed to borrow thousands more in major change by Nationwide

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"Nationwide Building Society has announced a significant expansion of its high loan-to-income (LTI) lending, a change that could see some borrowers access tens of thousands of pounds more than previously available. Under the new terms, home movers and customers remortgaging will now be able to borrow up to six times their annual income. This enhanced offering extends to both new and existing customers moving home or remortgaging, applicable for loans up to 95% loan-to-value (LTV)."

The Independent provides free access to reporting and analysis without paywalls and relies on donations to fund journalists reporting on major issues across the political spectrum. Donations support sending reporters to gather facts and speak to both sides of stories. Nationwide Building Society has expanded its high loan-to-income (LTI) lending, allowing home movers and remortgage customers to borrow up to six times annual income for loans up to 95% loan-to-value (LTV). Sole applicants must earn at least 75,000 and joint applicants 100,000 to qualify. Eligible borrowers previously could borrow up to 5.5 times income; the change increases maximum borrowing amounts (for example, from 412,500 to 450,000).

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