We're amending our BTL rental stress rate

From Monday 19 December, we'll be making changes to our Buy to Let rental stress rate for new mortgage applications.

A stress rate of 5.50% (or pay rate +2% if higher) will now apply on all applications, unless:

  • The product term is fixed for 5 or more years or;
  • The application is a remortgage of up to 65% LTV without capital raising

The current stress rate of 4.99% will apply in the two scenarios above. For applications where overall Buy to Let lending with the Nationwide Group exceeds £1m, a stress rate of 5.99% will remain in place.

There won't be any impact as a result of these changes for customers seeking a product switch or transfer of equity, providing no additional borrowing is involved.

Securing current products

You can secure current products by submitting a Full Mortgage Application (FMA) before 8pm Saturday 17 December 2016.

FMAs submitted after this date will be processed using our increased rental stress rate.

Help and Support

If you have any questions about these changes, please contact your local BDM or your Dedicated Broker Support team through Broker Chat.