Overview
- Both new and existing customers moving home or remortgaging can now borrow up to six times income at up to 95% loan-to-value.
- New applicants must earn at least £75,000 if applying solo or £100,000 jointly, while existing Nationwide mortgage customers face no minimum income requirement.
- For remortgages that do not include extra borrowing, Nationwide already permits up to 6.5 times income at the same 95% loan-to-value cap.
- Illustrative increases show a £75,000 sole earner’s potential borrowing rising from £412,500 to £450,000 and a £100,000 joint income from £550,000 to £600,000.
- Nationwide cites government and FCA moves easing constraints on income multiples, with lending still subject to affordability checks that can limit borrowing and increase monthly costs.