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UK's 2nd largest lender

Nationwide lent just under £36bn in 2018. That's 13% of all mortgage lending.

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9 day submission time

That's 11 days faster than the 20 day average across the lenders we've measured.

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Borrow 4.75x your income

You could borrow up to this amount if you meet the lender's requirements.

About Nationwide Building Society

Nationwide is one of the UK’s largest mortgage lenders.

They provided about 13% of all mortgages in 2018, totalling £35.7 billion.¹

Nationwide was started in 1846 as The Provident Union Building Society. 

Its name was changed to Nationwide in 1991. 

Nationwide offers mortgage deals to many people but often will not lend to you if you have bad credit.

In this review we'll cover:

Compare Nationwide mortgages

Compare Nationwide mortgages and see how your monthly payments would change depending on the initial period, total mortgage length, your deposit and how much you want to borrow.

After you choose a Nationwide Building Society mortgage deal, one of our expert mortgage brokers can check whether you're eligible and help arrange the mortgage for you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

New mortgage
Remortgage
Your loan to value is 60.00%

Is Nationwide a good mortgage lender?

We're looking at public complaints data to estimate their quality of service.

Between July and December 2019 the UK’s financial regulator had 5,245 complaints from Nationwide mortgage customers.² 

That’s around 0.3% of customers and is lower than the 1.06% average across major lenders.*

Nationwide scorecard

  • Nationwide is a good mortgage lender for tracker mortgages 

  • Nationwide offers low deposit and high LTV mortgages

*The number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.

How long a Nationwide mortgage application takes

In the last 6 months it took Nationwide on average 9 days to process mortgage applications from Trussle customers.* 

That’s 11 days faster than the 20 day average across all the lenders we’ve submitted applications to.

What affects the time taken to approve my application?

The time it takes for a lender to approve an application will vary depending on your personal circumstances and how busy the lender is.

Some applications can be approved by the lender within 24 hours but others can take weeks or even months.

The quality of the application can affect the approval time. A mortgage broker can help by making sure your application has all the details the lender needs.

These details were last updated on 8th July 2020.

How much you can borrow from Nationwide

Nationwide could lend you up to 4.75 times your salary.

How much you can borrow will also depend on your:

  • credit history

  • debts

  • deposit

  • regular expenses and bills

  • Age

Deposits

Nationwide don’t offer mortgages above an 85% LTV at the moment, so you’ll need to have at least a 15% deposit.

See how much you might be able to borrow with our mortgage calculator.

These details were last updated in July 2020.

Nationwide mortgage calculator

Calculate how much you may be able to borrow with a Nationwide mortgage. Calculate your monthly mortgage repayments with a Nationwide mortgage.

How much can I borrow?
Mortgage repayment calculator

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

You could borrow up to:

£000,000
Loan to value (LTV):
00%
Including your deposit, you could afford a house price up to
£000,000
Other fees you may have to pay:
Broker fee
(free with Trussle)
Additional fees
(learn more)

Next steps

If you're ready to get a mortgage, the next step is to answer a few more questions. Then a Trussle adviser will find the best mortgage deal for you.

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

Types of mortgages Nationwide offers

Nationwide offers a variety of mortgages for different types of customers.

Mortgage types on offer include:  

It may be the case that not all these mortgage types are available through a broker. 

*Nationwide offers buy to let mortgages through their specialist lending business, The Mortgage Works.

Nationwide offers home mover mortgages for people looking to move house.

Find out more about moving house in our guide.

This mortgage gives existing Nationwide mortgage customers the option to help out a family member when they go to buy a house.

The helper will borrow against part of the equity in their home to give it to the buyer. This ‘gift’ will help the buyer with their house deposit.

Family members can include:

  • children or step children

  • spouses

  • civil partners

  • parents

  • brothers and sisters

  • grandparents

The family member being gifted a deposit is the ‘buyer’.

Buyers will need to:

  • be first time buyers or moving home 

  • have a valid Nationwide Decision in Principle and a copy to give their helper 

The existing mortgage customer will act as ‘helper’. 

Helpers will need to:

  • have a mortgage with and be borrowing more from Nationwide

  • have a copy of their buyer’s Nationwide Decision in Principle

Lifetime mortgage

This is a type of equity release mortgage. 

With this type of mortgage you will not have to make monthly payments if you don’t want to.

The loan is repaid when you move into long term care or pass away.

Learn more in our lifetime mortgage guide.

Retirement interest only (RIO)

This type of mortgage is similar to a standard interest only mortgage.

You’ll only have to pay the monthly interest cost.

The main difference is that the bulk of the loan is paid off after the last borrower moves into long term care or passes away.

You’ll only need to show that you can afford the monthly interest payments.

Read more about interest only mortgages in our guide.

Retirement Capital & Interest (RCI)

With a retirement capital and interest mortgage you’ll pay back both the interest and capital each month. This is similar to a standard repayment mortgage.

The main difference is that you can borrow up to an older age.

You’ll need to show that you can afford the monthly repayments.

Nationwide mortgage payments

You’ll receive a letter with all the details, including how much the first payment will be and when it’ll be taken from your account.

Your first payment reflects your normal monthly payment, but you’ll also likely need to cover interest for the days between your move in date and the end of the month. 

This means your first payment will be a bit higher than your normal amount.

Making overpayments on your mortgage can help you reduce your outstanding balance and save on interest.

For mortgage deals secured since 29 May 2013, Nationwide allows an overpayment allowance of 10% a year of the original loan amount.

Tracker mortgages secured since 2 May 2014 allow an unlimited overpayment allowance.

Your repayment could be one lump sum or smaller instalments over time, depending on what suits your situation.

Keep in mind that early repayment on some Nationwide mortgages may mean you have to pay an Early Repayment Charge. 

Check your original Key Facts Illustration (KFI) for the specific terms of your deal.

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Get a mortgage with Trussle today

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  • Rated 4.9/5 on Trustpilot - the UK's top rated online mortgage broker

  • Thousands of deals from 90 lenders

  • Straightforward online application process

  • No waiting for appointments

  • No paperwork

  • Free ongoing mortgage monitoring

Your home could be repossessed if you don't keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.

What people are saying about Trussle...

Sources

Deal and rate data was sourced by Trussle.

All other information was sourced from Nationwide’s own website, unless referenced below.

¹ UK Finance

² Financial Conduct Authority