Nationwide offers free valuations across entire range

Nationwide Building Society is removing all standard valuation fees from its mortgage range.

Customers will now be able to select any mortgage product and benefit from fee-free standard valuations, both direct from Nationwide and through intermediaries.

The move will save the average house purchase customer around £200 and allow them to obtain a mortgage offer with no upfront fees.

Customers opting for a more detailed Nationwide Homebuyers Report will now pay a reduced top-up fee, depending on the overall value of the property on a sliding scale, starting from £150.

Mortgage customers with a main Nationwide Flex account will be eligible for a £250 cashback on any product across the mortgage range.

Nationwide is also introducing a new two-year 90% LTV Save to Buy tracker mortgage. It charges 2.49% with a £999 fee and 2.89% with no fee.

Its whole prime mortgage range can now be combined with the Flex main account cashback, which means the previous three-year Flexclusive tracker and four-year fixed rate products will be withdrawn.

The aim is to help mortgage customers by removing upfront costs associated with making a home purchase.

All first time buyers can access a £500 cashback once they have completed their purchase, while remortgage customers are offered free standard legals or a £250 cashback.

Henry Jordan, Nationwide’s head of mortgages, said: “The removal of all standard valuation fees from all mortgage transactions will aid both existing home movers and first time buyers, who will also benefit from a £500 cashback on all mortgage products.

“In addition, all Nationwide main current account holders will be rewarded with an additional cashback of £250, adding considerable value to the mortgage deal and further assisting customers with the costs of a home purchase.”

Customers requesting a full structural survey will be quoted for the cost on an individual basis.

Nationwide doesn’t share the results of a mortgage valuation report (MVR) with the customer unless it is requested. 

Existing mortgage customers continue to benefit from a 0.10% discount on new customer rates.