Nationwide increases maximum loan-to-value available for new interest only borrowing and for foreign national applications

17 March 2025

Nationwide is today (Monday 17 March) making two changes to its mortgage criteria as it looks to increase its support for more borrowers.

Interest Only:

Nationwide is increasing the maximum loan-to-value (LTV) available for customers requiring new Interest Only lending to 75% (up from the current maximum of 60%).

All other eligibility criteria, including minimum equity requirements, remain the same.

Foreign Nationals:

At the same time, Foreign Nationals without Indefinite Leave to Remain in the UK will now be able to borrow up to 85% LTV (up from the current level of 75%).

Applications above 75% LTV will be subject to minimum income requirements1 of £50,000 per annum for sole applicants or £75,000 for joint applicants.

Nationwide is also removing the requirement for these applicants to provide at least 25% of the total deposit from their own resources. This change applies to all applicants, regardless of the LTV.

Henry Jordan, Nationwide’s Director of Home, said:

“These latest changes continue our efforts to support as many borrowers as possible, whether it’s purchasing a new property or looking for a new deal on their existing mortgage. The increase in maximum loan-to-value for new Interest Only lending helps more borrowers who prefer the flexibility of Interest Only. The new maximum loan-to-value available for Foreign Nationals also means that we will be able to support more of those customers with their mortgage needs.”

Stephanie Daley, Director of Partnerships at Alexander Hall, said:

“Nationwide’s recent enhancements to their lending criteria mark a significant step forward in supporting a broader range of borrowers and means more of our clients will be able to access their product range. The increase in the maximum LTV for new Interest Only lending suits our clients who want more flexibility and options when choosing their mortgage. Additionally, allowing Foreign Nationals without Indefinite Leave to Remain to borrow up to 85% LTV is a game-changer and removing the deposit requirement further enhances accessibility. It’s great to see more options available for these good quality borrowers.”