Second Property max LTV changes and other important updates

From Monday 21 January, you'll notice we've made a number of changes and improvements across our criteria and online systems which we've outlined for you below:


Second Property max LTV changes

We've made positive changes to LTV limits for clients who'll own two or more properties on completion of their new Nationwide mortgage.

Provided the client will have a single mortgage on completion, standard LTV limits will apply.

Maximum 85% LTV will continue to apply if the client will own two or more mortgaged properties on completion.


ESIS Mortgage Illustration

To ensure we're compliant with the Mortgage Credit Directive (MCD), we've replaced the existing KFI with our new European Standardised Information Sheet (ESIS) Mortgage Illustration.

We've also updated references of KFI to 'Mortgage Illustration' or 'Illustration' across our systems and communications.


Improved Rate Switch information

We've made it easier for you to access your clients' Rate Switch information. Within NFI Online, we've included a new summary box at the top of the 'Case Home' Screen which outlines when:

  • the Rate Switch has or will take effect, and
  • your client can expect to receive their First Payment Notification

For details of other NFI Online updates please visit our NFI Online enhancement page.