Nationwide Mortgages

Nationwide was formed in 1884 originally as the Southern Coop Building Society. Its aim was to help people save money and buy their own homes. A lot has happened since then. Nationwide retains its mutual status. This means that it is in business for the benefit of its members - that's you! Read more about Nationwide Mortgage lending criteria

Self-Employed: Sole Traders 

Nationwide lends to self-employed sole traders. To qualify for a mortgage, you'll typically need to provide at least two years proof of income. This would normally be your HMRC Tax calculations and Tax year overview. These documents will help assess your income stability and financial health. It's important to note that the specific requirements may vary depending on individual circumstances. 

Read more about Mortgages for Sole Traders

Self-Employed: Limited Company Directors 

Nationwide also offers mortgage options for self-employed limited company directors. In general, you'll need to provide at least two years of company accounts and/or personal tax returns. The lender will assess your income based on both your salary and dividend payments. The latest accounts should not be over 18 months old. 

Read more about Mortgages for limited company directors

IT Contractors 

IT contractors can often qualify for mortgages through Nationwide. The lender will typically require at least two years of tax returns and accounts to verify your income. But they may also consider your employment contract history. It's advisable to have a consistent income history to increase your chances of approval. 

Read more about Mortgages for  IT Contractors

How Much Will Nationwide Lend? 

The amount Nationwide will lend depends on various factors, including your income, credit history, and the property value. As a general rule, lenders typically offer mortgage loans up to a certain multiple of your annual income. The multiples apply to your provable annual income and start at about 4.5 x's your annual income. However, this can vary based on individual circumstances. 

First-Time Buyers: 

Nationwide often participates in government-backed schemes designed to help first-time buyers get on the property ladder. These schemes may include Help to Buy and Shared Ownership

Helping hand: This incentive may allow you to take a larger mortgage. You will need to have at least a 5% deposit and the minimum single income on the application must be at least £30,000. This promotion does NOT apply to self employed applicants. Contact us to find out more

Nationwide Joint Borrower Sole Proprietor 

This type of mortgage may be able to help applicants who are struggling with affordability 

Nationwide DONT offer Joint Borrower Sole proprietor mortgages. 

Read more about Joint Borrower Sole Proprietor mortgages here

Nationwide Let to Buy

Nationwide may consider a Mortgage application on a new residential property. Nationwide will require that any existing mortgage is self financing and that the mortgage is suitable for let properties. You will need a letter from an ARLA registered letting agent confirming the expected rental income.

Nationwide Interest only

An interest only mortgage means that the borrower is only paying the mortgage interest back to the lender. Interest only is only appropriate in certain limited situations. You will need to have a repayment method. Nationwide will consider an interest only mortgage application. You may be able to borrow up to 60% on interest only with any additional borrowing taken on capital and interest.

Acceptable repayment methods will be Sale of Mortgage Property

There is a minimum income of £75,000 for sole applicants with £100,000 for joint applicants

The term of the mortgage must not go beyond retirement age

Nationwide Expatriate Mortgages

Nationwide does not currently accept Mortgage applications from Expatriates who are living abroad. However we are able to help in many cases with other lenders. Please read more under Mortgages for Expatriates

The information provided on this site is provided for information only. You should NOT rely on the information. We recommend you contact us to discuss any new mortgage enquiry