Nationwide 95%

Dan_Collins_2

Nationwide have ditched 95% mortgages. 90% max.

Woby_Tide

thats not strictly true according to their media centre

http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1192

Dan_Collins_2

Apologies, it must be through the broker channels.


Product News
28th April 2008Nationwide changes to Mortgage Products effective 1st May 2008
In SummaryDespite adjusting our rates throughout the first part of the year, we are still continuing to see high demand for our products.
As a mutual it is important we offer our members good deals whilst managing the demand for our products and maintaining a high level of service. As a prudent organisation it is also important to ensure that we continue to manage business volumes through our distribution channels.
In view of this we are making the following changes with effect from 1st May 2008:

• Maximum loan size on all new business is £500,000
• Maximum 90% LTV across all intermediary products for new introduced business*
• Withdrawal of Base Mortgage Rate (BMR) for all new introduced business
• Tracker rates will decrease by 25bps as a result of the Bank of England base rate reduction

*Please note: at 90% LTV, the maximum loan size is £450,000. A maximum loan size of £500,000 is subject to an LTV of 85%
Full details are shown below. All other products remain unchanged.