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Nationwide Calls for Rule Change in Order to Help Thousands of First-Time Buyers

Nationwide, the UK's largest building society and world's biggest mutual, calls for relaxing mortgage affordability rules to help 10,000 first-time buyers.
The call follows sustained mortgage market strength in April and May and concerns that current limits restrict lending to more first-time buyers.
Nationwide is introducing a market-leading bond offering a 5% interest rate exclusively for members, along with a £200 incentive to encourage account switching, while continuing to provide outstanding customer service and recording a rise in branch visits last year.
Members saving £10,000 would earn £762.50 interest after 18 months, which is over £150 more than the next best 4% bond, emphasizing competitive product offerings.
If affordability rules relax, Nationwide expects to lend to an additional 10,000 first-time buyers yearly, potentially multiplying if market limits increase, indicating growth opportunities.

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Coventry Telegraph

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Nationwide issues new update to customers over 'fascinating' rule change

The building society, which is the UK's largest - and the world's biggest mutual - is calling for mortgage affordability rules to be relaxed to help an extra 10,000 hopeful first-time buyers

2 days ago·Coventry, United Kingdom

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Oxford Mail

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Nationwide calls for rule change in order to help thousands of first-time buyers

Nationwide said home buyers had been rushing to complete purchases ahead of tax relief being slashed from April.

2 days ago·Oxford, United Kingdom

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Birmingham Mail

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Nationwide issues update over 'fascinating' rule change and thousands could benefit - Birmingham Live

The calls from the building society, which is the UK's largest - and the world's biggest mutual - comes in a bid to help an extra 10,000 hopeful first-time buyers.

2 days ago·Birmingham, United Kingdom

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