Nationwide is increasing its support for the new build sector by increasing the maximum loan-to-value (LTV) available for those looking to purchase a new build house from 85 per cent to 90 per cent – providing further support for the housebuilding sector and the government’s housing ambitions.
The change, effective from today, means potential buyers will be able to apply for a Nationwide mortgage on a newbuild house with just a 10 per cent deposit.
As a building society founded to help people into a home of their own, Nationwide is always looking for new ways to make homeownership more accessible and affordable and increase the appeal of newbuild homes.
Ian Andrew, Nationwide’s Director of Intermediary Relationships, said: “As a mutual, we are committed to creating a vibrant and growing housing market and believe this change will demonstrate that we are fully behind the Government’s housing ambitions. By increasing our maximum loan-to-value on lending for new-build houses, we hope to help even more people into their first home or move onwards to their next.”
