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Nationwide cuts LTV to 90% for intermediaries

Nationwide has now capped its maximum loan to value to 90 per cent for intermediaries.

It has also withdrawn its base mortgage rate for all new introduced business.

The lender says that the maximum loan size on all new business is now £500,000.

The maximum loan size for 90 per cent LTV is £450,000.

Tracker rates will decrease by 25 bps as a result of the Bank of England base rate reduction.

Nationwide says: “Despite adjusting our rates throughout the first part of the year, we are still continuing to see high demand for our products. As a mutual it is important we offer our members good deals whilst managing the demand for our products and maintaining a high level of service. As a prudent organisation it is also important to ensure that we continue to manage business volumes through our distribution channels.”

The changes will come into effect from 1st May.

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