News
Nationwide increases maximum LTV and LTI limits for self-employed
Nationwide has made improvements to the borrowing limits for self-employed people.
The mutual has increased the maximum loan to value (LTV) available to 95 per cent from a previous limit of 85 per cent.
This will be open to self-employed borrowers who are moving or buying their first home. Those who are remortgaging will be able to access Nationwide’s entire remortgage range which is available up to 90 per cent LTV.
The maximum loan to income (LTI) has also been raised from 4.49 times income to 5.5 times income.
Henry Jordan, director of home at Nationwide Building Society, said: “Having changed our lending policy for self-employed during the pandemic, we believe now is the right time to increase our support by extending our maximum loan-to-value available to them to 95 per cent.
“We’re committed to supporting self-employed borrowers as much as we can, which is why we’re also increasing the amount that they can potentially borrow with Nationwide to 5.5 times income.”
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