Terms and conditions for mortgage offers

Find out more about the terms and conditions for our current range of mortgage offers and deals.

  • Mortgages are subject to underwriting and criteria. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
  • Borrowing limits apply - please ask for details.
  • We may withdraw this offer at any time.

As of 11 November 2015, Nationwide doesn't charge any fees for a Standard Valuation. As this is a basic service, you may want to consider a more thorough survey, such as a HomeBuyer Report (fees listed below). A HomeBuyer Report tells you about the quality and condition of the house you want to buy. A full structural survey provides a thorough inspection of the property - this can be arranged through Nationwide, with fees determined on a case by case basis. To find out more about full structural surveys please ring us on 01202 56 06 37.

To be eligible to use our online mortgage application and complete your switch online, you must meet the following criteria:

  • Your Nationwide mortgage deal is ending in the next 3 months or you are currently on either our Base Mortgage Rate (BMR) or Standard Mortgage Rate (SMR)
  • You have no more than 4 mortgage accounts that you wish to switch
  • Your mortgage is not in arrears
  • Your property is not being let out

Tracker products (including Flexclusives) are available online for customer switching up to 80% LTV. If your mortgage is above 80% LTV and if you are on the Standard Mortgage Rate (SMR) or due to revert onto the SMR, you can still apply for a tracker in your local branch.

Save to Buy mortgages are not available for new build properties. A Save to Buy mortgage can be applied for in branch or over the phone.

Save to Buy Mortgage

1. To apply for the Save to Buy mortgage you must meet the following requirements:

  1. Hold either of the below, as a minimum:
    • A Save to Buy ISA and/or Save to Buy Savings Account (and you must be in at least the third month of holding a Save to Buy ISA and/or Save to Buy Savings Account). 
    •  Help to Buy: ISA (you must be in at least the third month of holding a Help to Buy: ISA with Nationwide Building Society).
  2. Nationwide’s mortgage underwriting criteria applying at the date of the application for the Save to Buy mortgage, which will include, but isn't limited to, an assessment of your ability to repay the mortgage, a satisfactory valuation  of the property you wish to purchase and the property deemed a suitable security.

2. For joint Save to Buy mortgage applications at least one applicant must hold a Save to Buy ISA and/or Save to Buy Savings Account and/or Help to Buy: ISA.

3. If you complete a Save to Buy mortgage you may be eligible for a cashback reward. If a cashback is payable, this will be based on the combined balance of all named mortgage applicants’ Save to Buy ISA and/or Save to Buy Savings Accounts and/or Help to Buy: ISA as appropriate/relevant at the time of their application for the Save to Buy mortgage. Only Accounts of named Save to Buy mortgage applicants will count toward the cashback reward.

4. If you are eligible for a cashback reward, it is payable either by cheque or by bank transfer to the current account where the mortgage payment is taken from, within one month of completion of the new mortgage.

5. Only one cashback will be paid per Save to Buy mortgage. Where more than one mortgage product is selected as part of a single mortgage application, only one cashback will be payable.

6. The cashback amount is not guaranteed and as with all our mortgage offers the cashback may be changed or withdrawn at any time and without notice.

7. We may from time to time offer other mortgage promotions and incentives for account holders and these may differ for First Time Buyers and Home Movers.

8. We may withdraw or vary  our mortgage products  including the Save to Buy mortgage, or change the eligibility criteria at any time and without notice.

9. Terms and Conditions are effective as of 1st December 2015.

When you remortgage to Nationwide we'll give you £500 cashback (unless you choose our free standard legal fees option) which will be paid within one month of completion of the mortgage. The cashback offer is in addition to other cashback offers.

  • Family members are classified as being a spouse, civil partner, parent, brother, sister, child, grandparent, grandchild or someone whose relationship has the characteristics of a family relationship.
  • To be able to take this product, the Buyer1 must be purchasing their first home, or moving home, with a Nationwide mortgage.
  • The Buyer must obtain a valid Nationwide Decision in Principle (DIP) and provide a copy to the Helper2.
  • The Helper will need to provide a copy of the Buyer’s valid Nationwide Decision in Principle (DIP) at their mortgage application. The DIP will be used for validation purposes only.
  • The Helper must be taking additional borrowing from our Family Deposit Mortgage further advance range.
  • All or part of the additional funds raised by the Helper through the Family Deposit Mortgage range must be gifted and cannot be loaned to the Buyer.
  • Our Family Deposit Mortgage range is not available online.
  • We may amend or withdraw the Family Deposit Mortgage range at any time and without notice.

1 The family members who receive a gifted deposit we call 'Buyers'.
2 We call those helping family members with their deposit 'Helpers'.

When you move your mortgage from one provider to another, there is a cost for the legal work involved. But when you remortgage with us, we’ll cover the cost of standard legal fees for you, or you can choose to receive £500 cashback.

What do you get with our free standard legal fees?

This covers basic legal costs including the conveyancer’s professional fee and standard disbursements (disbursements are third-party costs run up on your behalf by the law firm).

What isn't covered?

There may be extra work or services that aren’t covered under standard legal work. Here are a few examples which you may have to pay for, depending on the circumstances:

  • Telegraphic transfer fee to repay your existing lender
  • Mining and other unusual search fees
  • Rectification of a defective title
  • Change of name on title deeds
  • Transfers of Equity
  • Merger of titles
  • Dealing with the repayment or postponement of other secured loans
  • Dealing with leasehold or shared ownership properties

If work needs to be carried out that is not covered by our free standard legal service, we will inform you and suggest that you instruct our solicitor to carry out this work for you.

You will need to pay for this additional work. The solicitor will provide you with a full list of charges in their initial letter to you, and will ask for your agreement before proceeding.

Can I use my own solicitor?

You can instruct a separate solicitor to act for you, or seek independent legal advice at any stage if you wish - but you must pay for any legal services you arrange yourself. If you do instruct a separate solicitor to act for you, you will need to provide us with their details when you submit your mortgage application.

How do I use Nationwide’s free standard legal service?

It is offered as part of your remortgage application. You can apply for a mortgage online, speak to your mortgage adviser in your local branch, or call us on 0800 111 44 10.

The conveyancer is working on our behalf. This means they can’t give you any legal advice on the mortgage. Any information they provide to you is for your information only. You can get independent legal advice from another provider if you need it.

Standard legal work is worth around £200 depending on your circumstances.