Compare Nationwide mortgages

When looking at mortgages, it is important to know which kind of mortgage is most appropriate for your borrowing needs and personal circumstances. By comparing the different types of mortgages available, you should be able to find a good deal for you.

First Time Buyer mortgages

It is well known that many first time buyers have difficulty raising a sufficient deposit to buy their first home. Nationwide is one of a number of lenders who help first time buyers deal with this problem by offering mortgages of up to 95% of the value of a property.

This means the buyers only have to raise 5% of the purchase price as a deposit, making it much more affordable. They can also help with finance for alternative options, such as shared ownership mortgages.

Remortgaging with Nationwide

It may be possible to reduce your monthly mortgage payments by switching from your current provider to Nationwide, or one of their competitors. If you can secure a new mortgage with lower monthly repayments, this would allow you to pay off your existing mortgage leaving you with less to pay each month.

Alternatively, you may be able to borrow more that your existing mortgage, meaning that once it is paid off with the new mortgage you will be left with a spare cash sum for home improvements or other purposes.

Second charge mortgages

Customers who have had their mortgage for at least six months and are not renting out their property may be able to take out a separate second mortgage if they need to raise extra funds. This can allow you to take your combined borrowing up to 80-85% of the market value of your property, depending on the circumstances.

Loan to value ratio

Loan to value (LTV) ratio shows how much the amount you want to borrow works out to as a percentage of the market value of the property you wish to secure the loan against. So, if you need to borrow £50,000 on a £100,000 property, this will give you an LTV of 50%.

In general, the lower your LTV, the better interest rates you are likely to be offered, however a number of different factors will also affect this. Most lenders state the maximum LTV they are willing to go to with their different types of mortgages. This allows you to see how much of a deposit you will need to raise to make up the difference.

Find the best deals on mortgage rates

Using our mortgage calculator, you can compare deals from across the market to help you find the best possible rates for your borrowing needs. All you have to do is input some basic information about your borrowing requirements and we will match you up with our pick of the most appropriate deals available. That way you can easily compare and contrast the various offers to find the right one for you. Head to the top of the page to try it out.