Where to get KFIs
Under FCA regulation, the generation of KFIs becomes an integral part of the mortgage sales process and as such it is vital that you know where to obtain a Nationwide KFI for any scheme.
Nationwide for Intermediaries can only accept applications on an "Advised" basis, and this should be reflected in the level of service confirmed in section 2 of the KFI.
KFIs are available directly from Nationwide via:
Most KFIs can also be obtained by mortgage sourcing systems. These are stand-alone KFIs, produced by the relevant sourcing company with no interaction from Nationwide.
How KFIs can be generated
|Right to Buy|
|Second Property Applications|
|Applications with other mortgages in the background|
|Borrowing in Retirement|
|More than 3 addresses in the last 3 years|
|Equity Share Purchase|
|Nationwide Building Society Staff/Pensioners|
|Genuine Bargain Price|
|Restricted Resale Price|
‡ If you want to produce a KFI for a loan that is being ported to another property, this can be done as long as the loan to be ported has not already been redeemed.
Manual KFI Porting Requests
Most Porting KFIs can be produced via NFI Online with the following exceptions:
- Porting a 25 year fixed rate
- Porting an account with a future dated product switch
- Porting if the mortgage term takes the applicant past 75 years old (like for like applications only)
- Porting of 4 or more accounts
- Porting an account where the current mortgaged property is being let out
- Porting of 3 or more applicants (like to like applications only)
Porting in these circumstances will require a manual KFI to be produced.
To obtain a KFI please complete the Manual KFI Porting Request Form and submit as instructed. KFIs will be faxed or posted to you within 48 hours of receipt if the form if received by 3pm.
Forms received after 3pm will be treated as having been received by 8am the next working day.
For further information on porting or information on KFIs for porting a tracker product, please call 0800 464 3000.
Manual Rate Switch Offer Requests
Most rate switch offers can be produced via NFI Online with the following exceptions:
- Where there are more than two applicants on the existing mortgage.
- Where your client is switching more than four accounts.
To request a manual offer for an exception, please complete the Rate Switch Application Form and follow the instructions on the form. Once this has been completed by our team and you've received a copy of the offer, you'll need to complete our Rate Switch Offer Acceptance Form to confirm that your client has accepted it.
Base Mortgage Rate (BMR) and Standard Mortgage Rate (SMR) for Porting
Nationwide's BMR and SMR are not available for new business and additional borrowing customers.
It will therefore only be available to existing Nationwide customers moving home who are already on the BMR/SMR and wish to port to their BMR/SMR product. They can only port across their existing balance and any additional borrowing required must be taken on a product other than the BMR/SMR Porting Only product.
Applications received on the BMR/SMR Porting Only Product that are not for existing customers who are porting their BMR/SMR on its existing balance will not be accepted and the application will be returned.