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They’re Back - Nationwide returns to 95% lending on flats

Nationwide Building Society has returned to lending at 95 per cent loan to value on non-new build flats.

The society reduced its maximum LTV for flats (excluding new-builds) to 85 per cent at the height of the pandemic due to concerns about the economic conditions at the time.

The change will be beneficial for first-time buyers, with 25 per cent purchasing a flat in 2022. This compares with less than 10 per cent of home movers. And it’s thought that this change will particularly help those who live in large urban areas like London, where last year over 35 per cent of first time buyer purchases were flats.


Nationwide already lends at 95 per cent LTV for new-build flats via the scheme.

Henry Jordan, Director of Home at Nationwide Building Society, says: “We are pleased to be able to return to higher loan to value lending on flats – a move that predominantly supports the first-time buyer market. With flats representing one in four purchases for first-time buyers we hope this decision gives more options for those looking to get onto the property ladder.”

A reminder of this lender’s Deposit Unlock scheme.

This allows first time buyers and movers alike to buy a new build home with a 5.0 per cent deposit, although only from a specified number of participating builders.

Currently these are: Anderson; Ashberry Homes; Barratt Homes and Barratt London; Bellway and Bellway London; Bewley Homes; Bloor Homes; Bovis Homes; City & Country; Countryside Properties; Crest Nicholson; Croudace Group; Davidsons Homes; David Wilson Homes; Devine Homes; Edenstone Homes; Fairview Homes; Glesson; Hayfield Homes; Hill; Ilke Homes; Keepmoat Homes; Linden Homes; Mandale Homes; Miller Homes; Morris Homes; Nicholas King Homes; Norfolk Homes; Pat Munro Homes; Persimmon; Prospect Homes; Redrow; St Modwen Homes; Stonebridge; Taylor Wimpey; Thakeham; Vistry; and Wheeldon.

Buyers must also use a mortgage from one of the (few) participating lenders - currently Newcastle Building Society, Nationwide and Accord Mortgages.


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