What happens if my borrowing power is now not enough to cover exisiting mortgage?

Promort

My current mortgage deal with Nationwide is due to expire in August, however since taking out my current deal 2.5 years ago, my income has fallen plus my personal debt has increased (not by much, but a little bit - car loan for example). I am now concerned that with the new borrowing rules in place, whether I will even be able to borrow enough to cover the current outstanding mortgage amount. I have never missed a mortgage payment, so there are no issues there and I am not looking to borrow any additional funds. So in theory the mortgage amount will actually be almost 10% less than what it was 3 years ago, plus the property has increased in value by about 10-15% as well.
Does anyone know whether existing customers are automatically offered a new deal, or whether Nationwide will want to perform affordability checks all over again?
What happens if I do not qualify to borrow enough to cover the mortgage amount with Nationwide or any other lenders for that matter?
Thanks

Foxy-Stoat_3

If you go on their standard variable rate then nothing happens, if you want to fix for another 2/3/4 years then speak to their customer retentions department for options.

kingstreet

You'll get a customer retention product from your existing lender with no further income or status checks.

somethingcorporate

Nationwide do no further checks for existing customers they just offer you a (set of) new potential deals.

dimbo61

Look on the Nationwide website at New deals for existing customers and fill in your details.
Only decision to make is which deal you want Simple really

deejaybee

Would it be same procedure for other "High St" lenders ?

Woolwich/Barclays in my case.

amnblog

Woolwich should allow you to simply switch your rate (assuming no arrears)