Our Sustainability Report 2023 is now available:
Find out more about how we help to achieve safe and secure homes for all on pages 7 to 9, and how we measure our progress to help achieve safe and secure homes for all on page 43 of the report.
What's on this page
Giving first time buyers the support they need
We remain focused on increasing the accessibility of home ownership for first time buyers and are working to address two key challenges they face – raising a deposit and being able to borrow enough to afford a property.
Our Helping Hand mortgage has supported affordability, enabling first time buyers to borrow up to 20% more (up to 5.5 times their salary) compared to standard fixed-rate mortgages, on 5 and 10-year fixed rate terms. It extends to 95% loan to value, reducing the pressure on first time buyers of saving for a larger deposit.
We also participate in the Home Builders Federation’s Deposit Unlock scheme. Deposit Unlock makes buying a new home more affordable, enabling home buyers, including first time buyers, to buy a new build home, of up to £750,000, with just a 5% deposit.
And we participate in the government First Homes affordable housing scheme, which supports first time buyers in purchasing new build homes below their market value.
Find out more about how we support mortgage customers, including first time buyers, on pages 7 and 8 of our Sustainability Report (opens in a new window).
Championing renters’ rights
Nationwide continues to be a force for positive change in the private rental sector by supporting vulnerable customers.
Find out more about how we support landlords and help to provide good quality homes for those who rent on pages 8 and 9 of our Sustainability Report (opens in a new window).
Lending for social housing
Social housing is important for many. Often offering an affordable, secure, longer-term tenancy.
We're proud to support providers of affordable housing throughout the UK and have been lending to the social housing sector for over 60 years. We’re one of the key lenders to social housing providers in the UK.
Our relationship managers are experienced in the social housing sector, which means our customers benefit from our strong sector knowledge and dedicated customer service. We maintain regular dialogue with the Social Housing Regulator and other key sector stakeholders to contribute on social housing issues and policy.
Find out more about our support for the social housing sector on page 8 of our Sustainability Report (opens in a new window).