Your clients come first
All Nationwide remortgages are available with the same range of products and benefits as our standard mortgages, but they come with a few little extras.
Covering the cost of a Standard Valuation
When your client transfers their mortgage to us from another lender, we always check the value of the property. To minimise costs for your client we always pay the fee for a standard mortgage valuation.
Covering the cost of Standard Legal Fees
We will pay the legal fees in connection with a straight-forward remortgage of registered land. However, your client will need to pay all charges or fees relating to any non-standard work that a conveyancer carries out.
Non-standard fees include: mining or any other unusual search fees, fees for first registration of the title at HM Land Registry, dealing with a change of name on the title deeds or a transfer of equity and the rectification of defective title etc.
Leasehold cases
Any fees your client must pay to the freeholder or management company and any fee for carrying out a company search or obtaining company documentation in respect of the management company are not included.
Solicitors
The solicitor we choose will be acting for Nationwide, so if your client decides not to use the included legal service selected by us and/or take independent legal advice, this cost will not be covered by Nationwide.
Note on Let Properties
Transparent conditions
Nationwide does not remortgage properties that are let. Visit our specialist lending division,
The Mortgage Works, to see our current range of Buy to Let remortgage deals.
All other non-remortgage applications should be sent to your usual Nationwide contact point, otherwise they will incur delays while they are transferred.
Remortgage Tolerance (NFI Online cases)
For a remortgage, if the new loan requested is insufficient to repay the existing mortgage, an additional amount of up to and including £500 (‘the tolerance’) can be requested by the conveyancer without the case having to be reprocessed. Conveyancers can only request tolerance for this purpose.
If the conveyancer requests more than £500 the loan amount will have to be increased, the application reprocessed and a revised offer issued.
The Offer will include a condition instructing the Conveyancer how this tolerance can be used.
Where the tolerance of up to and including £500 is used -
- The case will not need to be reprocessed.
- A new Offer will not need to be issued.
- The case will not be declined if the maximum affordability or LTV limit is breached.
Customers will be informed of the revised monthly payments in their First Payment Notice.
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