View more on these topics

Nationwide cuts stress rate by 0.25%


Nationwide has cut the stress rate used in its affordability calculation from 6.99 per cent to 6.74 per cent.

The change came in today and will apply to all applications including equity share.

The lender says it is making the change to pass on the recent 0.25 per cent Bank of England base rate cut.

The lender says: “Our affordability calculators will be updated from 24 August and most customers will see a small increase in the amount we’ll lend to them (subject to criteria).”

For pipeline cases the lower stress rate will apply to all cases started or reprocessed on or after 24 August.


National Counties and The Family pass on 0.25% BoE cut

The Family Building Society and National Counties Building Society are passing on the recent 0.25 per cent cut in Bank of England base rate to their customers. The Family Building Society’s managed mortgage rate will be reduced by 0.25 per cent on 25 September. National Counties’ standard variable rate will also be cut by 0.25 […]


Nationwide cuts entire fixed rate range by up to 0.20%

Nationwide is cutting most of its fixed rate mortgages by up to 0.20 per cent. The cuts apply to the lender’s two-, three-, five- and ten-year fixes. The two-year fixed rate products start at 1.49 per cent with a £999 fee and 1.89 per cent with no fee. The three-year fixes begin at 1.79 per […]


NatWest launches cashback fixed rates for FTBs

NatWest Intermediary Solutions has included a number of new two- and five-year fixed rate cashback mortgages into its first-time buyer range. The deals all have a £500 cashback payment that the customer will receive on completion of their mortgage. Only one of the mortgage applicants needs to be a first-time buyer to be eligible. They […]

Embrace simplicity!

By Fiona Holmes, proposition communications manager When I first took out critical illness cover, I was overwhelmed. It wasn’t just the form filling, it was finding out about the sheer number of illnesses I was covered for. Did it give me peace of mind that I was covered for neuromyelitis optica or systematic lupus erythematosus? […]


News and expert analysis straight to your inbox

Sign up