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Nationwide to add further advance to its broker range

Jessica Nangle

November 25, 2020

nationwide mortgage tools

Nationwide Building Society is reinforcing its commitment to the broker community by giving them access to its further advance product offering from Tuesday 1 December.

The further advance range will cover a variety of client cases and will be available up to 85% LTV.

The rates will be the same as the society’s existing further advance products available direct.

The society will also pay its full new business procuration fee rates on further advances, with a minimum fee of £100.

This is in addition to Nationwide continuing to offer 90% LTV mortgages to first-time buyers across all channels.

Ian Andrew, director of intermediary relationships at Nationwide, said: “We know that having access to our further advance products is important to brokers given their continuing popularity with clients.

“We’ve listened to that feedback and have been working hard over the last few months to make the necessary changes and are delighted that we can now launch this proposition to brokers. 

“Brokers remain very important to us and that is why we have continued to expand our product offering throughout this year, including the introduction of interest only products exclusively to brokers.

“With all these positive additions, and as we look to further expand our offering in the future, they can be confident that Nationwide has a suitable option for whatever their client’s needs and will continue to strongly support the intermediary sector.”

Andrew Montlake, managing director of Coreco Mortgage Brokers, added: “It is great to see lenders listening to brokers’ feedback and acting to improve things.

“Nationwide has been one of the strong lenders throughout this period and has supported brokers and their clients well.

“This change will give brokers the ability to continue to look after their clients and deepen the relationship further, which is much needed in the current trying times.”

David Hollingworth, associate director at L&C Mortgages, said: “Brokers need as many tools in their kitbag as possible to be able to provide the most tailored solutions for their customers in an increasingly complex market.

“Lenders can’t afford to stand still in a fast-paced market and Nationwide’s continued expansion of product options is very welcome, demonstrating the importance it places on working with its intermediary partners to deliver the best results for customers.”

This latest announcement continues the society’s support for brokers and the expansion of its offering this year, after the launch of interest only products exclusively to brokers in April.


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