Loan to Value (LTV)
In this section we cover:
LTV and maximum loan size
The tables below show the maximum lending limits depending on the application. If more than one LTV limit is relevant to the application, the lowest LTV will apply. Also, products may not be available up to the maximum LTV detailed below, please check our product finder for our current interest rates.
Maximum LTV can also be affected by:
- Whether our security is a new build
- Whether your client owns more than one mortgaged property on completion
- The purpose of the loan
- Limitations on the product selected (see our product finder for further information)
| Maximum LTV | Maximum loan - 5 Year Fixed Products | Maximum loan - All Other Products |
|---|---|---|
| 60%* | £5 million | £1 million (with £999 fee) £2 million (with £0 fee) |
| 75%* | £5 million | £1 million (with £999 fee) £2 million (with £0 fee) |
| 80%* | £1,500,000 | £1 million |
| 85%* | £1,500,000 | £750,000 |
| 90% | £750,000 | £500,000 |
| 95%** | £500,000 | £500,000 |
For existing Nationwide borrowers moving home porting their existing product/s:
- without any top up borrowing, the same maximum loan amounts as those for applicant’s taking a 5 year fixed rate product apply.
- with top up borrowing, for the maximum loan amounts above to be available the top up borrowing can only be on a 5 year fixed rate.
Maximum LTV and loan for New Build properties
| Max LTV | Max Loan | |||
|---|---|---|---|---|
| New Build Flats | 75% | £5 million |
||
| New Build Houses | 85% | £1.5 million |
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* Loans above £1 million are only available for products with £0 product fees or 5 year fixed rate products. Loans above £2 million are exclusive to 5 year fixed rate products only.
** Lending above 85% is currently only available on:
- Second-hand houses
- Second-hand flats and Maisonettes (with lease term 90 years or longer)
- Bungalows
- New Build properties under the Deposit Unlock scheme.
Lending restricted to 85% LTV (this excludes properties under the Deposit Unlock scheme)
- New Build houses
- Second-hand flats and Maisonettes (with lease term shorter than 90 years)
- Coach house flats
- Coach houses
Additional LTV restrictions
For Remortgage and Additional Borrowing (Further Advance) lending is restricted to 90% LTV.
Rate Switch applications are offering our full range of products up to 95% LTV and a maximum loan of £5 million. While all purchase applications have a maximum LTV of 95%.
Exceptions may apply for existing customers porting their mortgage. For further information, please speak to one of our experienced advisers using Broker Chat.
LTV limits
The maximum LTV on non new build flats (with a minimum lease term of 90 years) will be increased to 95% for purchases and 90% for remortgages.
Additional borrowing (further advance)
The LTV for additional borrowing applications will be determined by the borrowing reasons. Please see the additional borrowing page for a full list of borrowing reasons and LTVs.
Existing Nationwide borrowers moving Home
The maximum LTV for existing Nationwide borrowers moving home is 95%.
See our Existing Nationwide borrowers page
Application and property type LTV limits
Please remember, if more than one LTV limit is relevant to the application, the lowest LTV will apply.
| Application/ property type |
Maximum LTV | Restrictions |
|---|---|---|
| Shared ownership |
90% |
Minimum initial share 25% Subject to product availability restrictions If customer is using FHTB loan towards deposit, this will not count towards minimum 10% |
| Equity share | Dependent on Scheme. Minimum deposit of 5% of full purchase price required |
Maximum Equity Share Loan:
Subject to product availability restrictions If customer is using FHTB loan towards deposit, this will not count towards minimum 5% |
| Right to buy | Up to 100% of discounted price | + Additional funds for legal fees and home improvements Subject to product availability restrictions |
| Second properties | 85% | Where your client has, or will have on completion, only one mortgaged property, standard LTV limits will apply. Maximum 85% LTV will continue to apply if the client will own two or more mortgaged properties on completion and will be treated as a Second Property application, even if the property being purchased or remortgaged will be your client’s main residence. |
| New build flat | 75% up to £5,000,000 |
'New Build' is defined as a property that has been newly constructed or converted/refurbished (involving major alterations to the fabric of the building, its internal fixtures and fittings and probably its use) and has not been purchased (even if it has been occupied) within two years of its completion. This includes properties being bought off plan. Please note alterations to a property described as 'refurbished' including the replacement of kitchens, bathrooms, services and windows etc does not fall within the definition of New Build. Any price restriction must be as a defined percentage of the unrestricted open market value. Not acceptable in conjunction with Shared Ownership, Equity Share Loan or Forces Help to Buy. |
| New build house |
85% up to £1,500,000 |
|
| Restricted Resale Price | 90% based on the restricted value. | |
| Concessionary Purchase/ Genuine Bargain Price | 90% based on the open market value. |
The discount must be a gift, not a loan, and there must be no conditions attached to it. The purchase can't be part of a recognised scheme, such as Right to Buy or Shared Ownership.
A deposit is not required unless the loan exceeds our maximum LTV |
| Interest Only | 60% |
See our interest only page for full criteria |
| Deposit Unlock | 95% |
See our Deposit Unlock for full criteria |
Borrowing criteria
View our acceptable loan purposes and more in our borrowing criteria.
Read our borrowing criteriaNeed to talk to us?
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