General criteria

Acceptable deposit (sources)

Acceptable deposit sources table
Source of deposit Proofs required
Savings in the UK or EEA
See also Help to Buy ISA
For accounts within the UK, one full month's bank statement is required, showing the full cycle of transactions.
  • 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 or more may be queried. If the transaction is a gift, the UK gifts criteria will be followed.

  • For accounts outside of the UK but within the EEA, one full month’s bank statement is required, showing the full cycle of transactions.
    • 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 £10,000 (non-UK currency equivalent) or more may be queried. If the transaction is a gift, then non-UK gifts criteria will be followed.
Savings outside of UK and EEA

For accounts outside the UK and EEA, the most recent three 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-UK gifts criteria will be followed.
Builders cashbacks/deposit
  • A builder can provide a cashback 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 cashback rules.
  • Not accepted on Equity Share loan applications.
Letter from solicitor
Gifts
  • A gifted deposit is acceptable provided there are no conditions attached to it. The only exception is where the gift is provided by a family member and is subject to a second charge or family trust arrangement. The only condition allowed is for the repayment of the charge upon sale of the property. There can be no interest charged and the family member can have no other interest or claim upon the property.
  • If a gift was given to the applicant over 12 months ago, this should be keyed as savings. Further information may be requested.
  • Concessionary purchase (Genuine Bargain Price) is any sale where the vendor is purposefully and knowingly selling the property to the applicants under value.
  • There isn't a maximum amount for gifted deposits.
  • Read more about Genuine Bargain Price.

  • A completed Gifted Deposit form is required for any gifted amount of £10,000 or more received from within the UK. 
  • We require donor bank statements and a Gifted Deposit template for any gifts coming from either:
    • a donor who is a foreign national or
    • a donor residing outside the UK or has funds held outside the UK.
  • 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.
  • Any 3rd party or cash transactions of £5,000 (non-UK currency equivalent) or more may be queried, and additional proofs requested.

Where the Donor is raising/has raised funds through a loan

  • Where we've been advised (or have identified) that the donor is raising/ has raised the gifted funds through a loan, including a remortgage or bridging finance on their own property, we'll accept this, provided:
    • We have a satisfactory GOD template completed by the donor(s)
    • The applicant/s are not a named borrower on the donor’s loan; and
    • The applicant/s are not required to make or contribute towards any repayments.
  • We require a copy of the donor’s loan agreement and:
    • Where the donor’s loan is sourced from a UK lender, the firm must be regulated by the FCA.
    • You'll need to obtain evidence of where the donor’s loan is sourced from outside the UK. This is to confirm that the lender is a main finance provider and similar to those governed by the FCA in the UK.
  • We require bank statements to show the funds paid out, where applicable
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

Help to Buy: ISA closing statement
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.
  • Is accepted in conjunction with Help to Buy Equity Loan schemes or Shared Ownership (FHTB loan does not count towards minimum deposit requirements).
  • Not accepted in conjunction with Genuine Bargain Price, Right to Buy 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
  • Where the source of deposit is inheritance, this should be keyed as savings

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
Funds from sale of overseas property

Where an applicant has all or part of their deposit from the sale of an overseas property, it can be treated as the applicant's savings.

Proof requirements are:

  • solicitor's letter or completion statement detailing the sale, address of the property sold, amount and date it was paid and the latest 1 month's UK bank statement showing funds received.

Where the funds have been paid into an overseas bank account then:

  • Solicitor's letter or completion statement AND
  • If an EEA country, the proof requirement is 3 months' bank statements prior to the funds being transferred out of the account into the applicant's UK account. The latest bank statement must be dated within 90 days of the date the proof was uploaded to the case.
  • If a non-EEA country, the proof requirement is 6 months' bank statements prior to the funds being transferred out of the account into the applicant's UK account. The latest bank statement must be dated within 90 days of the date the proof was uploaded to the case. 
Funds from Redundancy
  • Any supporting documents that clearly state the funds are from redundancy (eg a letter from a previous employer or payslip).

If you’re unsure about whether a source of deposit will be acceptable, contact us on Broker Chat to check


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. This is 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.
  • Gifts from acting Mortgage Broker or Brokerage
  • Funding from credit cards
  • Repayment of a loan to friends or family – we’ll only accept this if it was repaid over 3 months ago. In this case, please key as savings.
  • Funds from children under the age of 18, whether a sole or joint account holder, or beneficiary of a trust.
  • Cryptoassets

Number of applicants

The maximum number of applicants is two.


Term

For interest only, the maximum term that Nationwide will lend up to is 25 years (or retirement if sooner).

Besides this the maximum term that Nationwide will lend up to is 40 years.


Minimum age

Minimum age for mortgage applicants is 18.


Maximum age

Borrower type Criteria
New borrowers
  • Nationwide mortgages must be repaid on or before the eldest applicant's 75th birthday.

See our Income Criteria page for further information on Lending into Retirement.

Existing Nationwide borrowers (under the age of 75) Where the existing current mortgage term extends beyond the eldest applicant's 75th birthday, your client can take out a new mortgage over the term remaining on their current loan. This is subject to satisfying all other lending criteria - see below.

They may also 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.
  • They continue to meet our standard status requirements and comply with our lending criteria.
  • They pay any applicable ERCs if they reduce the loan.

See our Income Criteria for further information on Lending into Retirement.

Existing Nationwide borrowers (already aged 75 and over)

Your client may apply to port their product over the remainder of their current mortgage term. This is providing they:

  • don't increase the term(s) beyond the current remaining term(s).
  • don't increase the loan to value (LTV)
  • don't take any additional borrowing
  • pay any applicable Early Repayment Charges (ERCs) if they reduce the loan.
  • continue to meet our standard status requirements and comply with our lending criteria.
Retired borrowers The maximum acceptable retirement age is 70. If the chosen mortgage takes your client into retirement, Nationwide will require details of how they intend to continue to meet repayments.

You can contact one of our experienced advisers on Broker Chat for more information.


Foreign nationals

The following criteria applies, including source of deposit.

Nationals
Nationals Criteria Applies
Republic of Ireland (ROI) Nationals
ROI Nationals can live and work in the UK without time limits and will be treated as UK Nationals.




Non-UK / ROI Nationals
  • All applicants are credit scored before a mortgage is offered. We can't accept applicants who can't provide an acceptable full 3 year UK address history. The credit reference must cover all addresses for all parties in the last 3 years. 
  • The maximum LTV is 75% where an applicant does not hold indefinite leave to remain status.
  • Applicants who have either EU Settlement Scheme (EUSS) pre-settled or EUSS settled status will be treated as having indefinite leave to remain.
  • The 75% LTV limitation doesn't apply if the second applicant is a non-UK/ROI national without indefinite leave to remain and their income is not used on the application.
  • Where an applicant doesn’t have indefinite leave to remain, they must have a minimum of 12 months remaining on their visa at the time of uploading the proof. This applies even if they have a points based visa.
  • Applicants must evidence their residency status with visa endorsements/stamps in a valid unexpired passport (if the visa is in an expired passport, a valid passport must also be provided), or with a valid Biometric Residency Card (BRC) or Biometric Residence Permit (BRP)*.
  • Where income is not being used for an applicant without 'Indefinite Leave to Remain' we don't require 12 months remaining on the visa.

*Biometric Residence Permit (BRP) holders only:

With Home Office plans to digitalise immigration status information by the end of 2024, some BRPs will show an expiry date of 31 December 2024. 

Where the applicant holds a BRP with an expiry date of 31 December 2024. And they also have proof they have been granted permission by the Home Office to stay in the UK beyond this date, this is acceptable. This is provided the Home Office correspondence confirms eligibility to remain in the UK for at least 12 months.

Please note: the above exception does not apply to:

  • Biometric Residence Card (BRC) holders, or
  • BRPs that confirms the holder has Indefinite Leave to Remain/Settled status.

Source of deposit

  • Applicants must be able to fund a minimum of 25% deposit from their own resources for purchases or have 25% equity in the property for remortgages/ additional borrowing.
  • For joint applications, the deposit from their own resources can come from either or both applicants. For example, on a joint application with one applicant being a UK/ROI national, and the other without indefinite leave to remain/ settled status (but with one of the above acceptable visas), the 25% deposit can come from either applicant.

Non indefinite leave to remain and points based visas are subject to additional criteria as detailed below.

 
Transaction type Criteria for applicants without indefinite leave to remain

Purchase (including Equity Share)

  • Maximum LTV of 75%
  • Minimum of 12 months remaining on their visa (at the time of uploading the proof)
  • Minimum of 25% deposit from their own resources. (This must be in addition to the Equity share, where applicable)
  • Gifts and builders cash backs are only acceptable where they're in addition to the minimum 25% deposit from their own resources
Genuine Bargain Price
  • Maximum LTV of 75%
  • The gifted equity will be treated as their own resources
  • In order to proceed through the application, you'll need to answer ‘Yes’ to the ‘Do you have 25% equity/deposit from your own resources’ question in NFI Online.
  • Minimum of 12 months remaining on their visa (at the time of uploading the proof)
Purchase Right To Buy
  • Maximum LTV of 75%
  • The discount will be treated as equity (own resources)
  • In order to proceed through the application, you'll need to answer ‘Yes’ to the ‘Do you have 25% equity/deposit from your own resources’ question in NFI Online.
  • Minimum of 12 months remaining on their visa (at the time of uploading the proof)
Remortgage, Additional Borrowing – includes Right To Buy and Equity Share applications
  • Maximum LTV of 75%
  • Minimum of 12 months remaining on their visa (at the time of uploading the proof)

Proof Requirements

Where an applicant has settled or pre settled status and has not been issued a biometric residency card the ‘check someone’s immigration status’ document is acceptable. This can be obtained by the applicant from the Home Office website using a unique share code issued to them.

Where an applicant is from an EU or EEA country, or from Switzerland, they won't get a card showing pre-settled or settled status. The status is only online and is evidenced using the ‘Check someone’s immigration status’ document.

The proof should be the page which shows the ‘details of the check’ which contains the following information:

  • Organisation or Company name
  • Purpose of the check
  • Date of the check
  • Reference number

If you and the applicant are unable to provide this, please provide the share code.

Indefinite leave to remain, settled or pre-settled status are treated as having 'indefinite leave to remain'. Standard lending criteria will apply.

EUSS Certificate of Application

Where an applicant with Pre-Settled Status is in the process of applying for Settled Status, the EUSS ‘Check Someone’s Immigration Status’ page will return a ‘Certificate of Application’.

Where a returned Certificate of Application, you'll be able to proceed. This is subject to retaining the following:

  • The Certificate of Application; and
  • The issued Home Office Letter when Pre-Settled Status was originally granted

Please visit our proofs section to see our proof of name and residency requirements.

 
Acceptable (Indefinite Leave to Remain) Acceptable (Without Indefinite Leave to Remain) Unacceptable
  • Biometric Residence Card (BRC) settled/Pre-Settled Status, with wording issued under under/ (or in accordance with) the EU exit separation agreements
  • Biometric Residence Permit (BRP) with the following wording:
    • Indefinite leave to Enter/Remain
    • No Time Limit
  • Certificate of Naturalisation
  • E-Visa Check Someone’s Immigration Status Document - settled/Pre-Settled Status
  • Valid unexpired Non-UK/ROI Passport or Biometric Residence Permit (BRP) with the following wording:
    • Indefinite Leave to Enter/Remain
    • No restrictions on the holders stay in the UK
    • No Time Limit
    • Right to Abode
  • If the visa endorsement confirming Indefinite Leave to Remain is in an expired passport this is acceptable, (with the exception of Right to Abode). We'll also require a copy of the current passport.
  • Armed Forces (exempt from immigration control) under section 8 of the immigration act 1971
  • Biometric Residence Permit (BRP) with the following wording:
    • Leave to Enter/Remain
  • Family of a settled person
  • Hong Kong - British National Overseas (BNO)
  • PBS Dependant Visa
  • Spousal
  • Tier 1 - Global Talent
  • Tier 1 - Innovator
  • Tier 2 - Skilled Worker/ General
  • UK Ancestry
  • Valid unexpired Non-UK/ROI Passport or Biometric Residence Permit (BRP) with the following wording:
    • Leave to Enter/ Remain
  • If the valid visa endorsement is in an expired passport this is acceptable. We'll also require a copy of the current passport.
  • Applications for a visa i.e., the applicant must have already applied for and been issued with an acceptable visa confirming their right to remain in the UK
  • Blue/Pink Home Office residence documentation booklets
  • Certificate of Identity
  • EEA Family Permit
  • Family member of EEA/EU Resident
  • Home Office Letters
  • Marriage Visitor
  • Permitted Paid Engagement
  • Standard Visitor/ Tourist
  • Student
  • Tier 1 - Investor Visa
  • Tier 1 - Post Graduate Study Visas
  • Tier 1 - Start up Visa
  • Tier 2 - Intra-Company Transfer Visa
  • Tier 3
  • Tier 4 - Student Visa
  • Tier 5 - Youth Mobility and any other Tiers
  • Transit
  • Working holiday maker
  • Humanitarian Protection

Income in a foreign currency

Income paid in a foreign currency isn’t acceptable for the following new lending applications:

  • Purchases (including second property types)
  • Remortgages
  • Further advances
  • Porting with additional borrowing

Where a client is looking to complete a combination of transactions, such as a term change and additional borrowing, then foreign currency income can’t be used.

Applications using foreign currency income without new lending

  • For existing Nationwide customers moving home, where no new lending is required, foreign currency income can be considered. This includes clients porting without additional borrowing.
  • For existing Nationwide customers looking to change their term or repayment type, foreign currency income can be considered.
  • If there’s no affordability assessment required, such as switching rates at deal end, we won’t need to look at income and therefore foreign currency income won’t need to be considered.

First payment and how interest will be calculated

Once your clients’ application is completed, they’ll receive a First Payment Notification in writing within 7 working days. This is to inform them of their first mortgage payment and when we’ll take payment from their account.

Your clients' first payment can be higher than their normal monthly payment. It’ll include interest from the date we released the funds to the end of that month. Plus their normal monthly payment for the following month.

For example if your client moves in on the 12th of May, their first mortgage payment in June will include interest for 12-31st of May. As well as the standard mortgage payment for June.


Repayment Methods

Borrowing type Available to Repayment method
Capital and interest

All members

Capital and interest (repayment) mortgages. Available for all borrower types.


Interest only/part and part
New purchase or remortgage members Read more about interest only and part and part repayments on our interest only page.
Existing interest only members moving home Read more on our existing Nationwide borrowers page.


Credit Scoring

All applicants are credit scored before a mortgage is offered. This is usually at Decision in Principle stage. Obtaining a Decision in Principle will record a soft footprint against the applicant's credit record(s). It is when the full application is submitted that a hard footprint is left.

If you're told the application is unaffordable, and you do choose to proceed, the decision will result in a decline. You should only use this if you intend on appealing the decision later on.

Acceptable credit score for your client:

  • The credit reference must cover all addresses for all parties in the last 3 years. We can't accept applicants who can't provide an acceptable full 3 year UK address history.
  • The applicant must not be an undischarged bankrupt.
  • We'll consider applicants discharged for at least 3 years.
  • 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, TransUnion and Experian. When you submit a full application, we're required to leave a footprint highlighting that we've performed a search connected with mortgage lending. This will leave a hard footprint at each agency we use. Multiple credit searches over a short period may affect your client's credit rating. You should explain this to your client before submitting their application.

Any joint applications 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. We may only accept subsequent applications from either of the individuals if there is no longer any connection between the original applicants.


Inherited properties

We would expect to see an application for an inherited property as a remortgage transaction. However, it'll be down to the conveyancer to advise how to structure the transaction.

Please note: if an applicant is porting their current Nationwide mortgage product to an inherited property, you will need to key this as a purchase application. This is because product porting is not available on remortgage applications.

You don't need to key where there is an existing mortgage on the property which isn't connected to the applicant(s). Any mortgages that are in the applicant(s) names should be keyed to the case in the usual way.

Where you're structuring the transaction as a purchase, you should key the deposit relating to the inherited element as ‘Equity’.

If applicants are purchasing from a deceased persons' estate, and they're not beneficiaries, you should key as a purchase application.

The table below provides remortgage keying guidance for the most common scenarios:

Scenario Application type Loan Purpose for repaying an existing mortgage on the property where the mortgage is not connected to the applicant/s Loan Purpose for buying out a beneficiary Any other additional borrowing
Applicant is the sole beneficiary of a mortgage free property Remortgage
N/A N/A In line with current policy
Applicant is the sole beneficiary of a mortgaged property Other Personal Consumption
Applicant is not the sole beneficiary on a mortgage free property N/A Buy out partner's interest (non-borrower)
Applicant is not the sole beneficiary on a mortgaged property Other Personal Consumption


Unsecured debt

Clients intending to pay off unsecured debt, that has more than six months to run, may be asked to provide proof that the debt has been paid off in full. This is before we can proceed to offer.

Examples of acceptable proofs we may require include:

  • A credit card statement showing that the balance has been cleared
  • A document from a loan company confirming the loan has been paid off

Where you're clearing more than one unsecured debt, we’ll need proof of repayment for each sole debt. Screenshots are acceptable.

We may accept if the unsecured debt is being repaid with equity from the sale of the client’s main residence.

Contact one of our experienced advisers using Broker Chat if you need more information.


Acceptable proof of payment history

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

Evidence of Mortgage payment history 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, we require the last 3 months bank statements
  • If you don't have the above, we'll require an existing lender's reference

Tenancy payment history

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


Offers (and how long they're valid for)

  • Remortgage and house purchase offers are valid for 180 days
  • Rate Switch offers are valid for 45 days
  • Additional borrowing (further advance) offers are valid for 90 days

In addition, there is a 15-day grace period from the date of the offer expiry in order to complete. This will be applied automatically so you don’t need to contact us.


Offer Extensions

New Build Offer Extensions

Where your client is purchasing a New Build property and the offer is due to expire, you can request an offer extension of 45 days. This is subject to eligibility and criteria. You'll need confirmation that your clients' circumstances haven’t materially changed. The 45 days is inclusive of the 15-day grace period applied to all offers.

Please see our New Build page for further information.

Non New Build Offer Extensions

Where your client is purchasing or remortgaging a property and the offer is due to expire, you may be able to request an offer extension of 45 days. This is subject to eligibility and criteria. You'll need confirmation that your clients' circumstances haven’t materially changed. The following is a list of acceptable reasons for an extension request:

  1. Nationwide, or a conveyancer acting under the Free Legal Fee Service, has made an error. Or caused the delay and completion is imminent.
  2. Where the funds have been released before but were returned as completion did not take place and the money is now required urgently.
  3. Delay caused by the death of someone in the chain e.g. vendor.
  4. Delay caused due to outstanding legal, title &/or property matters. This is subject to review by our Property team.
  5. Delay caused by delayed completion of a new build property in the chain.
  6. Delay caused by vendor’s sale falling through.

In order to request the extension for one of the above reasons, you will need to email mortgageofferextensions@nationwide.co.uk confirming the following information:

  • Case Number
  • Reason for Extension
  • Whether they have exchanged contracts or missives concluded (Scotland)
  • Have any material changes to income and/or outgoings been declared and detail the changes.

The 45 days extension is inclusive of the 15-day grace period applied to all offers.


Armed forces

We accept income from British Armed Forces personnel. We'll also accept applications from personnel purchasing a property to let straight away. As long as they intend to occupy the property within three years.

We'll accept additional borrowing (further advance) applications. However, where the property is already let this will only be for or essential or green improvements to the security address. Please see our how to submit a case page.

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

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

Gurkhas

For Gurkhas who have completed four or more years service in the British Armed Forces, you can key as having indefinite leave to remain. You will need to provide Proof of length of service. For Gurkhas who don’t have indefinite leave to remain, you should key as Non-EEA foreign nationals. However, Tier 1 or 2 visa proof isn't required as they're serving in the British Armed Forces. 


Ex-pats and applicants working abroad

All applicants must be resident in the UK for tax purposes when the mortgage has completed.

We'll consider applications where:

  • your client's a UK national working abroad and their family (ie spouse and children) will remain in the UK as occupiers. It's expected that the spouse will be a joint borrower.
  • if your clients can provide a full UK address history for the last 3 years. And they can satisfy our current ID policy, proof of residency requirements and underwriting criteria.

However, we won't accept where:

  • the property is to be let or left unoccupied whilst your client works abroad.
  • Income paid in a foreign currency.
  • Self-employed income from outside the UK.

You'll also need to include additional outgoings abroad if your applicant works abroad.


County Court Judgements (CCJs)

We'll consider lending to applicants with current or previous CCJs depending on:

  • the value
  • the date registered.

The application may be subject to a more detailed underwrite.


A-Z criteria

Search our A-Z criteria to find what you’re looking for

A-Z criteria

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