Remortgage

Customers transferring their existing residential mortgage from another lender to Nationwide
Customers wishing to take out a new mortgage on a mortgage free residential property that they own.

Key product features for your clients:

Free standard valuation and a choice of FREE standard legal fees or £500 cashback
Day one remortgage
We lend up to 95% of the value of their home
Offers valid for 180 days
90 day product reservations
If your client is repaying a Help to Buy equity loan in full, we'll lend up to 90% LTV to help them
10% overpayment allowance on fixed rate products
No ERCs on tracker products
Remortgage tolerance of up to £500 (NFI Online cases)
Choose interest only or part and part repayment basis across our remortgage product range
Capital raising on a mortgage free property.

Borrowing limits

Borrowing limits table
Application type	Maximum LTV
Remortgage like-for-like	95% LTV
Remortgage with additional borrowing	90% LTV
Remortgage with additional mortgaged properties in the background (e.g. second property or buy to let property)	85% LTV
Remortgage for debt consolidation or paying off a second charge (this includes non Help to Buy equity loans)	80% LTV
Interest only/part and part	75% LTV

You can see a full breakdown of additional borrowing limits on our borrowing page.

Additional borrowing limits

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Product benefits

Check the great options and benefits in our mortgage range

Mortgage features

Remortgage information

More information relating to our remortgage benefits is below. If you can’t find the information you’re looking for, talk to our Business Development Advisers using Broker Chat.

Covering the cost of a standard valuation This will reveal additional content

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 This will reveal additional content

We'll pay the cost of the standard legal fee in connection with a straightforward remortgage of registered land.

View our legal costs section which includes details on:

non-standard fees your client may have to pay
Leasehold cases

Remortgage Tolerance (NFI Online cases) This will reveal additional content

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.

Products offering cashback This will reveal additional content

The cashback is payable either by cheque or by bank transfer to the current account where the mortgage payment is taken from, within one month of completion of the new mortgage.

Note on Let Properties This will reveal additional content

Nationwide does not remortgage properties that are let.

For let properties please visit The Mortgage Works (opens in a new window), which is the specialist lender of Nationwide Building Society, to see their current range of Buy to Let remortgage deals.

Remortgages with no additional borrowing This will reveal additional content

This refers to clients who have no more than one mortgaged property and are looking to remortgage to Nationwide with no additional borrowing.

The loan amount requested must be less than or equal to the outstanding mortgage balance with the current lender. The product fee (if applicable) can also be added.