Nationwide LTV Bracket Change?

steffimartin89

First time buyer looking at obtaining a DIP in the new year. I've been keeping an eye on Nationwide's interest rates for most of this year (as I bank with them and although not set in stone yet, i'd like to get one of their Flexclusive mortgages) so have been using their homebuying app and website for rough mortgage quotes. Now upon looking tonight it seems their LTV brackets appear to have changed. The bracket we're aiming for, I thought was the 75%-80% one (20% deposit). However looking tonight it looks as though its changed to 76%-81%.

Has anyone heard of any changes? Or have I got it wrong an have got lost in my own numbers. This change only appears on their app, but does state that the rates quoted are 'retrieved real-time from Nationwide'.

We're looking at purchase prices between £200k - £225k. So the 1% less deposit would be a nice bonus going into the
new year.

Thanks

amnblog

Not seen the app, but this will be some kind of rounding up to simplify matters.

steffimartin89

amnblog wrote: »

Not seen the app, but this will be some kind of rounding up to simplify matters.

Thanks for the quick reply.

Possibly, but why the change though? I've been monitoring it for a while and until now anything more than 80% put you in the bracket above. As far as I was aware deposits / LTV's don't have to be whole percentages? Do they?

lee111s

Here's an excerpt of an email I got from them this week regarding my remortage - "The equivalent rate for the product you have reserved is: 2.34% (75.01 – 80% LTV)"

So going by that they haven't changed.


I'm at 76.6% following he valuation, was hoping to sneak under 75% but just not quite.

steffimartin89

lee111s wrote: »

Here's an excerpt of an email I got from them this week regarding my remortage - "The equivalent rate for the product you have reserved is: 2.34% (75.01 – 80% LTV)"

So going by that they haven't changed.


I'm at 76.6% following he valuation, was hoping to sneak under 75% but just not quite.

Thanks for the reply, interesting info. Be interested to see if anyone else reading has the app and could confirm that it is indeed using a different bracket compared to normal

lee111s

I've just downloaded it and it does give different results to the website checker, must be an issue with the app. Their LTV brackets won't have shifted unfortunately!