General criteria

Number of applicants
Term
Minimum age
Maximum age
Acceptable source of deposit and proofs required
Unacceptable source of deposit
Proofs
Bank statements
Armed forces
Non-EEA Foreign Nationals
Credit scoring
Acceptable proof of payment history
How long are offers valid for?
Solicitors' dual representation

Number of applicants

The maximum number of applicants is two.


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Term

The maximum term that Nationwide will lend up to is 40 years.


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Minimum age

Minimum age for mortgage applicants is 18.

Maximum age

New borrowers - Nationwide mortgages must be repaid on or before the eldest applicant's 75th birthday.

Existing Nationwide borrowers whose existing current mortgage term extends beyond the eldest applicant's 75th birthday can take out a new mortgage over the term remaining on their current loan, subject to satisfying all other lending criteria - see below.

Existing Nationwide borrowers under the age of 75 whose existing term extends beyond their 75th birthday may apply to port their product over the remainder of their current mortgage term providing:

  • They don't increase the term(s) beyond the current remaining term(s).
  • Any additional borrowing (which must be on new products) taken must be repaid on or before the eldest applicant's 75th birthday.
    • If the customer requires new additional borrowing (which must always be on new products) it must be repaid on or before the eldest applicant's 75th birthday. However if the term of the ported product(s) exceeds that of the new additional borrowing the term of the ported elements must be reduced to the term of the new additional borrowing
  • They continue to meet our standard status requirements and comply with our lending criteria.
  • They pay any applicable Early Repayment Charges (ERCs) if they reduce the loan.

Current Nationwide borrowers already aged 75 and over may apply to port their product over the remainder of their current mortgage term providing:

  • They don't increase the term(s) beyond the current remaining term(s).
  • They don't increase the loan to value (LTV)
  • They don't take any additional borrowing
  • They pay any applicable ERCs if they reduce the loan.
  • They continue to meet our standard status requirements and comply with our lending criteria.

Retired borrowers may be able to borrow up to the age of 85. Please refer to our Borrowing in Retirement page for more information.

As a responsible lender, Nationwide will require details of how applicants intend to continue to meet repayments should the chosen mortgage term take them into retirement.

  • The maximum acceptable retirement age is 70

For further information on Lending into Retirement, please see our Income Criteria page.

If you need more information, you can contact one of our experienced advisers on Broker Chat.


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Acceptable sources of deposit and proofs required

Source of deposit Proofs required

Savings (from UK based personal savings bank accounts)

See also Help to Buy: ISA

One full month's bank statement is required.
  • It must be dated within 42 days from when the document is uploaded.
  • There must be evidence of at least one month's worth of savings built up in the account.
  • Any 3rd party or cash transactions of £10,000 (UK) or £5,000 (non-UK currency equivalent) may be queried. If the transaction is a gift, then UK/non-gifts criteria will be followed.

Savings (from foreign based personal savings/bank accounts)

For accounts based in an EEA country, the most recent three months' bank statements are required, showing the full cycle of transactions.

For accounts outside the EEA, the most recent six months' bank statements are required, showing the full cycle of transactions. Non-EEA foreign nationals without indefinite leave to remain in the UK must provide a deposit of at least 25% from their own resources.

  • In addition, one months' UK bank statement showing the funds being transferred to the UK bank account of the applicant.
  • Any 3rd party or cash transactions of £5,000 (non-UK currency equivalent) or more may be queried. If the transaction is a gift, then non-gifts criteria will be followed.

Builders cash backs/deposit

  • A builder can provide a cash back incentive or deposit contribution provided this doesn't exceed 5% of the purchase price/valuation (whichever is lower). If it's more than 5%, the excess will be deducted from the price and our lending will be based on the reduced value.
  • Accepted on Shared Ownership applications, subject to the current builder cash back rules.
  • Not accepted on Equity Share loan applications.
  • Letter from solicitor
Gifts
  • There must be no conditions attached to the gift, except where the gift is provided by a family member and is subject to a second charge or family trust arrangement. The only condition is for the repayment of the charge upon sale of the property.
  • Concessionary purchase (Genuine Bargain Price) is any sale where the vendor is purposefully and knowingly selling the property to the applicants under value.

Read more about Genuine Bargain Price.

A completed Gifted Deposit form is required where an amount of £10,000 or more of the deposit has been gifted. Where the decision in principle is a refer, a Gifted Deposit form may be required in some instances.

For gifts of £10,000 or more that come from outside of the UK, donor bank statements will also be required.

  • If the donor resides and/or the funds being used are within the EEA, 3 months' statements are required.
  • If the donor resides and/or the funds being used are outside of the EEA, 6 months' statements are required.

Help to Buy: ISA

Help to Buy: ISA is an acceptable source of deposit. To qualify your client must:

  • be a first time buyer
  • be aged 16 or over
  • have a valid National Insurance number
  • be a UK resident
  • be buying a property up to the purchase price of £250,000 (up to £450,000 in London)

Read more about Help to Buy: ISA

Forces Help to Buy (FHTB)

  • A maximum of two FHTB loans can be used per application.
  • If the maximum product limits available at the time mean the FHTB is insufficient to meet the shortfall between the purchase price and the maximum available loan, then an additional deposit will be required.
  • Monthly repayment including the mandatory insurance payment must be included in affordability calculation, this will be confirmed from the Personal Information Note (PIN) as issued to your client by the MoD.
  • Not accepted in conjunction with any Equity Loan Schemes, Genuine Bargain Price, Right to Buy, Shared Ownership or Restricted Resale Price.

Read more about FHTB

Download our FHTB application keying guide

Purchases - the Personal Information Note (PIN) will be required to evidence deposit.

Remortgages - the applicants payslip will evidence the total monthly FHTB outgoing.

Inheritance

A letter from the executor or solicitor for the estate, confirming the amount that is to be/has been inherited.

If the funds have been received, a bank statement showing the monies going into your client's account is required.

Equity from sale of property
  • Sale price of the property

Unacceptable source of deposit

  • Any loans taken out by your client, except for:
    • borrowing from another lender against an additional property owned by the applicant (subject to affordability and criteria)
    • the repayment of a Limited Company Directors Loan. The Limited Company accountants must confirm the monies are available and there is no detriment to the company by removal of the funds. This deposit must also be keyed as savings.
    • Loan from a UK Trust Fund, provided no monthly repayment is made and the only condition attached to the Trust Fund loan is that it is repayable on sale of the property. Any other form of loan from a Trust Fund is unacceptable.
  • Non-UK Trust Funds
  • Funding from overseas companies
  • Gifts from overseas companies
  • Funding from credit cards
  • Repayment of a loan from a third party
  • Bitcoins

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Proofs

Please submit copies or scans of the original documents. Photos are acceptable, but must be submitted as a PDF or TIF, and not a JPEG.

Identification

The Society must satisfy identification requirements for ALL mortgage applicants. You may be asked to provide evidence to confirm your clients name and address.

For your client to proceed with their application we may require the following:

UK and European Economic Area Nationals

Please supply one document from the UK Photo ID list below:

  • Copy of a valid full UK Passport
  • Copy of a valid full/provisional UK Photocard Driving Licence

Alternatively, please supply one document from the proof of name list and one different document from the proof of current address list.

Acceptable proofs of name:

  • UK based Bank or Building Society statement* (dated within 42 days from when the document is uploaded to NFI) internet banking statements, Nationwide Flex Account statements, or Cheshire, Derbyshire and Dunfermline building societies statements are not acceptable)
    *Statements must be from a different source, i.e. a bank or credit card statement used for name ID cannot be from the same provider as a mortgage statement taken for address.
  • Copy of a Driving licence paper/photocard (valid full/provisional UK or Northern Ireland)
  • National ID Card (EU Only)
  • HM Revenue and Customs notice of coding (less than twelve months old)
  • UK Firearms Licence or Shotgun Certificate
  • Benefit Letter (less than twelve months old)
  • Id card – Armed Forces or Employer only
  • Credit Card statement (less than three months old)

Acceptable proofs of current address

  • UK based postal bank or building society statement* (dated within 42 days from when the document is uploaded to NFI) showing some transactions. Internet banking statements, Nationwide Flex Account statements, or Cheshire, Derbyshire and Dunfermline building societies statements are not acceptable.
    *Statements must be from a different source, i.e. a bank statement taken for address cannot be from the same provider as a bank or credit card statement used for name ID.
  • Copy of a Driving licence paper/photocard (valid full/provisional UK or Northern Ireland)
  • HM Revenue and Customs notice of coding (less than twelve months old)
  • Gas, electricity or telephone bill, not mobile (less than three months old, internet statements are not acceptable)
  • Mortgage statement* (excluding Nationwide, Cheshire, Derbyshire and Dunfermline building societies), water bill or council tax bill (less than twelve months old, internet statements are not acceptable)
    *Statements must be from a different source, i.e. a mortgage statement taken for address cannot be from the same provider as a bank or credit card statement used for name ID.
  • Benefit Letter (less than twelve months old)
  • Credit Card Statement (less than three months old)
  • Council tax bill (less than twelve months old)
  • Credit Union statement/passbook (less than three months old)
  • Water bill (less than 12 months old)
  • University/College Letter

Acceptable proofs of UK Residency for non-EEA Foreign Nationals (with indefinite leave to remain in the UK)

  • Copy of a valid non-UK or European Economic Area (Non-EEA) passport
  • Acceptable proofs of "indefinite leave to remain in the UK"
  • Passport containing stamp for indefinite leave to remain in the UK or
  • Copy of Permanent Residence Card
  • Copy of visa/residency permit (front and back for new biometric formats) or
  • Written confirmation of indefinite leave to remain in the UK from the Home Office
  • Additional acceptable proof of current address as detailed above

UK driving licences can only be used as proof of address for UK/EEA nationals. If an applicant is keyed as a non-UK national we cannot accept a driving licence as proof of address and an alternative proof will need to be requested.

Acceptable proofs of UK Residency for non-EEA Foreign Nationals (without indefinite leave to remain in the UK)

Exceptions can be made for non-EEA nationals without indefinite leave to remain in the UK or permanent residency status, if the following criteria are met in addition to our standard lending policy requirements.

  • Copy of a valid non-European Economic Area (Non-EEA) passport
  • Copy of Residence Card
  • Copy of a Family of a Settled Person Visa
  • UK Ancestry Visa
  • Copy of visa or work permit (Tier 1 or Tier 2 visa will be accepted)
  • Applicants who are in the UK on a Spousal or Ancestral Visa will be considered, but if their income is used for affordability they must contribute a minimum of 25% deposit from their own resources, even if married to a UK/EEA national who is a joint applicant
  • Additional acceptable proof of current address as detailed above

See below for further lending criteria relating to non-EEA Foreign Nationals without Indefinite leave to remain in the UK.


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Bank statements

Download our Bank statement payment guide

Bank statements can be requested for the following reasons:

  • 1-3 month’s bank statements from main account are required to show salary fed payments and outgoings account history.
  • 3 months’ bank statements are required to show rental income from a Buy to Let and the mortgage payment going out.
  • 3 months’ bank statements are required to evidence maintenance.

Statements can also be requested to provide evidence of deposit:

  • UK savings account: 1 months UK bank statement to be provided
  • EEA applicants: 3 months' foreign bank statements to be provided
  • Non-EEA applicants: 6 months' foreign bank statements to be provided

Paper bank statements must show:

  • Customer(s) initial(s) or full name(s)
  • Customer(s) full address
  • Account Number and Sort Code
  • All pages must be numbered and visible
  • The required number of month's transactions showing
  • Bank/Building Society logo visible
  • Regulatory footer statement visible

Online bank statements must show:

  • Customer(s) initial(s) or full name(s)
  • Account Number and Sort Code
  • All pages must be numbered and visible
  • The required number of month's transactions showing
  • Statements provided in PDF format are acceptable

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Armed forces

We accept income from British Armed Forces personnel. We'll accept applications from personnel that are purchasing a property that'll immediately be let, as long as they intend to occupy the property within three years.

Where your client can't provide UK address history, the Ministry of Defence BFPO postcode that corresponds to their barracks can be keyed.

We support the Forces Help to Buy (FHTB) scheme, you can find more information about FHTB on our housing schemes page.

Gurkhas

Gurkhas who have completed four or more years service in the British Armed Forces should be treated as having indefinite leave to remain - proof of length of service will be required. Gurkhas who don’t have indefinite leave to remain should be treated as Non-EEA foreign nationals, but Tier 1 or 2 visa proof isn't required as they're serving in the British Armed Forces.


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Non-EEA Foreign Nationals

For applications to be considered, indefinite leave must be evidenced by a stamp in a currently valid passport or written confirmation from the Home Office.

Exceptions can be made for non-EEA nationals without indefinite leave to remain in the UK or permanent residency status, if the following criteria are met in addition to our standard lending policy requirements.

Acceptable Visas are:

  • Tier 1 or Tier 2 Visa
  • Residence Card
  • Family of a Settled Persons Visa including Spousal Visa
  • UK Ancestry Visa

The above visas are acceptable for sole or joint applications where one or both applicants are from outside the UK/EEA.

Unacceptable Visas are:

  • Tier 3, Tier 4 or Tier 5 Visas
  • Marriage Visitor Visa
The maximum LTV for these applications is 75%.
  • Applicants must be able to fund a minimum 25% deposit from their own resources.
  • Gifts and builders cash backs are not acceptable, unless they are in addition to the 25%.
  • For joint applications, the deposit from own resources can come from either or both applicants. For example, on a joint application with one applicant being a UK/EEA national, and the other without indefinite leave to remain (but with one of the above acceptable visas), the 25% deposit can come from either applicant.
  • 75% LTV limitation does not apply if the second applicant is a non-EEA national without indefinite leave to remain and their income is not used on the application.

Croatian Nationals

Croatia joined the EEA on 1st July 2013, meaning Croatian nationals have the right to stay and work in the UK subject to certain restrictions. Croatian Nationals can be considered, provided they've completed a minimum of 12 months' continuous employment in the UK, or have at least one of the following:

  • A purple, blue or yellow registration certificate.
  • Indefinite leave to remain in the UK.

The above should be keyed as 'Outside EEA' under 'Nationality' with the question 'Do you have indefinite leave to remain in the UK?' answered as 'Yes'. The Workers Registration Certificate (or proof of indefinite leave to remain in the UK) should be attached to the 'Proof of Visa/Work permit' requirement.

If the applicant is self-employed they must satisfy our self-employed criteria.

For information about products please see our products, loan size and maximum LTV criteria.


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Credit Scoring

All applicants are credit scored before a mortgage is offered usually at Decision in Principle stage.

Where you are told the application is unaffordable and you do choose to proceed, the decision will result in a decline and this should only be used if you intend on subsequently appealing the decision.

For your client to be accepted:

  • The credit reference must cover all addresses for all parties in the last 3 years. Applicants who cannot provide an acceptable full 3 year UK address history cannot be accepted.
  • The applicant must not be an undischarged bankrupt.
  • Applicants who have been discharged for at least 3 years can be considered.
  • Normally there should be no history of a repossession, either voluntary or enforced

When completing a credit assessment on your client we may obtain information from up to 3 bureaus; Equifax, Call Credit and Experian. We are required to leave a footprint highlighting that we've performed a search connected with mortgage lending and we will leave a footprint at each agency we use. Multiple credit references over a short period may adversely affect your client's credit rating and you should explain this to your client before requesting Nationwide to undertake a Decision in Principle. You will be able to request a DIP decision 24/7 but the bureaus used may vary depending on their individual availability.

Any application that is initially made in joint names which results in a decline must not then be scored individually to try for an accept decision, even if either applicant in their own right has sufficient income to support the mortgage. Subsequent applications from either of the individuals may only be accepted if there is no longer any connection between the original applicants.


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Acceptable proof of payment history

Applicants must not have exceeded 3 months' arrears in the last 3 years.

Mortgage payment history can be evidenced using:

  • The last annual mortgage statement (covering 12 months' payments)
  • Where a mortgage statement covers less than 6 months payments and is over 6 months old. The last 3 months bank statements are required
  • Where the above is unavailable an existing lender's reference is required

Tenancy payment history

We do not require you to verify past payment history for any applicant who is currently renting or has been renting over the last twelve months.


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How long are offers valid for?

  • Remortgage offers are valid for 90 days.
  • House purchase offers are valid for 180 days. This includes applications for new build properties (whether completed or not).

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Solicitors' dual representation

  • If your client's solicitor isn't on the Nationwide's panel, your client can either change their solicitor for a firm that is on our panel, or the non-panel solicitor can be instructed to act for your client only. Nationwide will nominate a separate panel firm to act for them. All legal costs charged by both firms must be met by your client. This is known as separate legal representation.