Nationwide resurrects Help to Buy
In July 2014 the building society followed Lloyds Banking Group in restricting the scheme’s access to only first-time buyers, but now it has resumed access for all home buyers.
The Help to Buy equity loan scheme is available for home buyers purchasing property to the value of £600,000, with borrowers required to have a 5% deposit.
Richard Napier, Nationwide’s divisional director of mortgages and savings, said: “By opening up access once more to home movers after a short break, we will remain one of the top lenders through the scheme and will enable even more customers to move onto or up the housing ladder.
“These changes are very positive for our customers. Nationwide continues to offer shared equity customers access to our standard mortgage rates, rather than charging a premium like some other lenders.
“This demonstrates our ongoing commitment to this market, proving once again that we are on our customers’ side.”
Shared equity applications are available on fee and no fee products, meaning customers have unrestricted access to Nationwide’s full range.
Nationwide has ditched booking fees on new mortgages, as deals will be either fee-free or come with a £999 product fee, while this is discounted to £499 for first-time buyers.