Nationwide Increases New Build Mortgage Lending Up to 95% LTV: Enhanced Options for UK Home Buyers

Nationwide Launches Up to 95% LTV Mortgages for New Build Homes

Nationwide Building Society has announced significant updates to its lending criteria for new build properties in the UK. Effective immediately, prospective homebuyers and movers can now borrow up to 95% loan-to-value (LTV) on new build houses—a considerable boost for first-time buyers and those with smaller deposits. The LTV ceiling for new build flats has also increased to 85%.

Key Mortgage Product Updates: What’s Changed?

• Up to 95% LTV on New Build Houses: Borrowers can secure mortgages with just a 5% deposit when purchasing new build houses.
• Up to 85% LTV on New Build Flats: For buyers of new build flats, mortgages up to 85% LTV are now available.
• Extended Mortgage Offer Period: Nationwide now offers a 9-month mortgage offer period on new build properties. This provides additional flexibility and certainty for buyers facing construction or completion delays.

Nationwide’s Helping Hand: Increased Loan Amounts and Relaxed Income Criteria

Nationwide’s ‘Helping Hand’ scheme continues to make home ownership more accessible:

• Available up to 95% LTV: Both 5 and 10-year fixed rate mortgages under the Helping Hand scheme are now offered up to 95% LTV for new build homes.
• Higher Borrowing Limits: For a property priced at £270,000, a purchaser could borrow up to £256,500 with only a 5% deposit.
• Reduced Minimum Income Requirements: The minimum income required for this scenario (standard) is £57,000 (at 4.5x income). However, using Helping Hand, borrowers may qualify with an income of £43,000 (at 6x income).

Builder Incentives Now Accepted in More Cases

Nationwide will now consider both financial and non-financial builder incentives as part of its lending assessment on new build mortgages. This update can help buyers bridge affordability gaps, reduce moving costs, or add value through extras such as upgraded kitchen appliances or furniture packages. Acceptance is subject to specific purchase case types, making it essential to discuss individual circumstances with an adviser.

Who Benefits?

• First-Time Buyers: Those struggling to save a large deposit now have more accessible entry points into the property market.
• Home Movers: Secure a new build property with less upfront capital.
• Buyers Seeking Certainty: The 9-month offer period provides much-needed security on timescales, especially where construction completion can be unpredictable.

Why Consider Nationwide for Your New Build Mortgage?

• Leading LTV for New Build: Up to 95% LTV on houses is among the highest available from UK high street lenders.
• Extended Offer Period: A generous 9-month window means less pressure during the property-buying process.
• Helping Hand Flexibility: Potential for higher borrowing with reduced income requirements compared to standard criteria.
• Builder Incentive Acceptance: Additional incentives may be used to support your purchase.
• Specialist New Build Support Team: Nationwide provides dedicated support for pre- and post-application queries, ensuring smoother transactions.

Take the Next Step: Get Expert Mortgage Advice

If you’re considering buying a new build property or want to understand how these lending changes could benefit you, our mortgage advisers are here to help. Contact us today for free, no-obligation advice tailored to your situation. We’ll help you find the best mortgage rates UK and navigate the new Nationwide lending criteria to secure your ideal home.

FAQs: Nationwide’s New Build Lending Updates

• Who qualifies for up to 95% LTV on new build houses from Nationwide?
  • First-time buyers and existing homeowners purchasing a new build house may qualify, subject to income and credit checks.
• How does the Helping Hand scheme affect how much I can borrow?
  • It may allow you to borrow up to 6x your income, lowering the minimum income requirement—for example, to £43,000 in some cases.
• Can I use builder incentives towards my deposit or purchase costs?
  • Nationwide accepts selected builder incentives depending on your purchase case. Check with your adviser to confirm eligibility.
• How long does a mortgage offer for a new build property last?
  • Offers for new build purchases last up to 9 months, offering flexibility for completion dates.
• How can I find out if I qualify and apply?
  • Contact our team of expert mortgage advisers for a personalised assessment and help with your application process.