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Compare Nationwide mortgage rates online
Nationwide Building Society is one of the UK's largest building societies. They provide financial services including savings accounts, mortgages, loans and credit cards, as well as insurance products. Nationwide has received awards from several organisations for its quality service in categories such as customer service and personal care.
You can compare the latest rates from this lender against more than 90 others by using our free mortgage sourcing tool below:
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Lender Details
Product Details
What types of mortgages do they offer?
Nationwide offers a range of mortgage products for customers with various borrowing needs. Its core mortgage deals are aimed at the following demographics:
- First-time buyers
- Homemovers
- Existing remortgage customers
- Remortgage customers who are switching to Nationwide
- Buy-to-let landlords
The building society’s residential mortgage range consists of a wide variety of fixed-rate mortgages with 2, 3, 5 and 10-year initial rates periods, as well as 2-year trackers.
Nationwide offers buy-to-let mortgages through its subsidiary, The Mortgage Works. Its range is dominated by 2 and 5-year fixed rate deals, with some 10-year fixes also available, alongside a minority of tracker rate and other variable-rate agreements.
Buy-to-let mortgage range
Nationwide offers buy-to-let mortgages through its subsidiary, The Mortgage Works. Their product range includes bespoke deals for the following purposes:
- Buy-to-let mortgages for purchases and remortgages
- First-time landlord mortgages
- Let-to-buy agreements
- Large portfolio mortgages
- Purchasing through a limited company
- Buying specialist property types, such as HMOs
The standard interest cover ratio for a Mortgage Works buy-to-let mortgage is 130% for lower rate taxpayers and limited company applicants, 165% for higher rate taxpayers and 175% for HMO buyers regardless of their tax status. Stress rates may vary.
What mortgage interest rates are available?
Nationwide's mortgage rates are generally competitve with other high street mortgage lenders, and often lower than specialist mortgage providers'.
The exact rate you end up with will depend on the amout of deposit you have, the overall strength of your application and the type of product you choose.
Compare today's best mortgage rates
We work with 90+ UK mortgage lenders, including Nationwide Building Society. You can use our service to compare mortgage rates from across the market to find the right deal.
Our mortgage sourcing tool is FREE and will show you the latest deals from Nationwide Building Society and others so you can make an informed decision about which to choose.
Click the button below to get started comparing the entire market for free.
Lending criteria
The eligibility criteria may vary depending on what type of mortgage you are applying for, but Nationwide’s general requirements for residential mortgage applicants can be found below:
- Deposit requirements: The minimum amount of deposit you will need is 5% of the property’s value, but rates will likely improve if you can put down more.
- Credit history: Nationwide can offer bad credit mortgages, depending on the age and the severity of the adverse credit in question. For example, they will consider lending to someone with an IVA that was discharged three-to-six years ago but those with current/ongoing debt management plans will be declined.
- Age: The oldest applicant cannot be aged over 70 at the time of application, or be over 75 at the end of the term. For existing borrowers, the maximum age is 85.
- Trading history: Borrowers who are classed as self-employed must present at least two years’ accounts to evidence their income for the affordability assessment.
How much will they let you borrow?
Nationwide caps maximum mortgage borrowing at 4.75 times salary for most borrowers, but will increase that to 6 times annual income for some customers. The lower income multiple may, however, be used for self-employed people and shared equity agreements.
You can use our calculator below to get a rough idea of the amount you can borrow from lenders that use income multiples within this range:
Does Nationwide have good reviews from mortgage customers?
Yes. Nationwide currently holds a score of 4.5/5 from its mortgage customers on TrustPilot. They also have an average rating of 4.3/5 on Smart Money People, and were ranked in 1st place out of 22 lenders in a review of the mortgage market by consumer group Which?
Pros and cons
The table below shows the advantages and disadvantages of Nationwide as a mortgage lender to give you an idea of whether they are the right option for you:
|
Advantages |
Disadvantages |
|
Low deposit mortgages available |
Uses a smaller income multiple than some mainstream lenders |
|
Can be flexible with some types of adverse credit |
Limited options for self-employed borrowers with less than 2 years’ accounts |
|
Supports a wide range of governments schemes |
Limited options for contract workers |
|
Positive reviews from existing customers |
Limited options for borrowers who rely on family support, such as guarantors |
Get independent advice about Nationwide mortgages
The most important thing to take on board here is that you need to compare Nationwide's mortgage range with that of other lenders across the market. Limiting yourself to just one lender could mean missing out on more suitable deals elsewhere.
There are brokers on our team who have a working relationship with Nationwide. They know their product range well and can compare them with every competitor across the market on your behalf to help you decide whether they are the perfect fit for you.
Here are just some of the reasons you should use us for your mortgage comparison needs:
- Our mortgage brokers are whole-of-market
- They often have access to exclusive rates and deals
- We are 5-star rated on leading review websites
- Your first consultation is FREE
Ready to see how Nationwide's latest rates compare to deals from across the and speak to one of our brokers about their products? Get started here.
FAQs
Nationwide is no longer offering lifetime mortgages, but customers with an existing one can still switch to a new deal with them, borrow more or port their mortgage. They may also have the option to switch to a new lifetime mortgage provider if they wish.