Nationwide is increasing the maximum loan-to-value (LTV) for new build houses to 95% from 26 June, offering a major boost to homebuyers and the housebuilding sector.

Brokers using OMS can now submit decisions in principle (DIPs) for all Nationwide’s mortgage applicants.

The lender has reduced rates for both new and existing customers by up to 0.12%.

The reduction allows applicants to borrow on average £28,000 more.

The lender has reduced rates for new and existing customers looking for a new mortgage deal by up to 0.22%.

Nationwide has reduced rates by up to 0.30%, offering sub-4% first-time buyer rates for first time since September 2024.

Nationwide has reduced rates by up to 0.29% for existing customers switching to a new deal or new customers remortgaging.

The lender is cutting rates by up to 0.25 percentage points.

Nationwide is the first building society to gain this rating - which is the second of three levels firms can achieve through the programme. 

Sole applicants now need a minimum income of £35,000 to benefit from Helping Hand.