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Nationwide to lower income multiple cap


Nationwide Building Society is set to cut its income multiple cap for sole applicants above 85 per cent LTV.

From 27 May, a new lower cap of 4.5 times income will apply.

All other applications will have a cap of 4.75 times income.

The new policy will apply to all cases where a decision in principle is obtained from tomorrow, but the old policy will apply if a DIP is obtained today.

Earlier this week the mutual said it was eyeing a launch into the equity release market with a “clear, simple, safe” product for older borrowers.

It also announced record mortgage lending figures having lent £32.6bn in the year to 4 April – a year-on-year increase of 20 per cent.

Profit increased 30 per cent from £1bn to £1.3bn.



Nationwide eyeing launch into equity release sector

Nationwide is eyeing a launch into the equity release sector. Speaking to the Times, the UK’s second biggest lender said it had been looking at ways to allow older borrowers to release equity in their homes to allow them to help their children get on the housing ladder or to pay for care. Chief executive […]


Nationwide announces record mortgage lending

Nationwide Building Society announced it had a record year for lending last year as it revealed new loans were up 20 per cent year-on-year. Its annual results, published today, show it lent a record £32.6bn in the year to 4 April, up from £27.1bn in the previous year. This gives the mutual a market share […]


Nationwide cuts fixed rates by up to 20bps

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The Perils of Passive Investing

The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever. In the video Felix discusses: The rising cost of capital and its […]


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