Loan to Value (LTV)
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 size|
|New build houses|
|New build flats|
* The maximum LTV is 85%, except for First Time borrowers and existing Nationwide borrowers. For existing Nationwide borrowers, in these circumstances, applications above 85% LTV will only be available on a like for like (based on LTV) basis. See the criteria below. There is a max LTV of 85% for self-employed applications.
** Loans above £1 million are only available for products with £0 product fees.
If your client's loan size is over £500,000, take a look at our large loans information.
Exceptions may apply for existing customers porting their mortgage. For further information, please speak to one of our experienced advisers using Broker Chat.
LTV limit for existing Nationwide borrowers
Existing Nationwide borrowers moving Home
Applications for existing Nationwide borrowers moving home above 85% LTV and submitted on or after 18 June 2020, will only be allowed if the LTV is less than or equal to their current LTV.
The existing LTV should be based on the agreed price of the current property vs their existing mortgage balance and you must upload proof of the agreed sale price to the application; this can be a letter or an email from the estate agent, property sales team or solicitor.
If your client meets the above they can;
- borrow more or less than the current mortgage
- will have the choice to port or not port their existing mortgage product/s
For example, if the current LTV is 86% and the LTV on their purchase is 90%, this will not be accepted.
If the LTV on the purchase application is higher than the current LTV then the application can’t proceed until the LTV on the purchase is less than or equal to the current LTV.
Non-simultaneous porting applications
The above criteria also applies.
Previous borrowers returning to Nationwide within 12 months
The LTV will be limited to 85%.
Application and property type LTV limits
Please remember, if more than one LTV limit is relevant to the application, the lowest LTV will apply.
90% LTV for first time buyers.
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 £1,000,000||
'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 £750,000
80% up to £1,000,000
|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
See our interest only page for full criteria
Search our A-Z criteria to find what you’re looking for.A-Z criteria
View our acceptable loan purposes and more in our borrowing criteria.Read our borrowing criteria
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