Nationwide hikes maximum LTV for remortgage switching

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Nationwide is increasing the maximum LTV for customers remortgaging from other lenders on a like-for-like basis from 85 per cent LTV to 90 per cent.

The changes come in tomorrow.

Rates for Nationwide’s two-year 90 per cent LTV remortgage product start at 2.39 per cent with a £999 fee and 2.79 per cent with no fee.

There is also a three-year product option, starting at 2.74 per cent, and five-year products at 3.19 per cent with a £999 fee and 3.39 per cent with no fee.

Remortgagors also get a free standard valuation and the choice between free standard legal work and £250 cashback.

Nationwide head of mortgages Henry Jordan says: “We are extending our range of remortgage products to 90 per cent LTV in response to growing demand and to help the most customers possible.

“This will be particularly useful for first time buyers who bought with a smaller deposit and are now looking for a lower rate at the end of their current deal.”