Nationwide limits LTV to 85%

The new restrictions, due to come into force tomorrow, will affect all mortgages in Nationwide’s intermediary range. The UK’s largest building society says it will still offer mortgages of 90% LTV to first time buyers and existing customers directly through its branch network. A Nationwide spokesperson says: “There have been major changes in this market and we want to ensure we have a good mix of products going forward.” In addition to the LTV restrictions, Nationwide has widened its intermediary range with new 3-year trackers, 3-year fixed rates and 3-year first time buyer mortgages. I...