Nationwide Building Society is urging Britons looking to get on the property ladder to take advantage of its recent mortgage overhaul.
First-time buyers have flocked to the lender’s Helping Hand mortgage following changes that permit borrowing up to six times annual income.
The building society reported a 53 per cent rise in uptake after implementing the enhanced borrowing limit in September 2024.
Approximately 23,000 people secured their first homes through the scheme between October 2024 and September 2025.
Nationwide Building Society is among the banks and building societies offering top mortgage deals
|
NATIONWIDE BUILDING SOCIETYThis represents a significant increase from the 15,000 buyers who utilised the mortgage in the preceding twelve months.
The adjustment raised the income multiple from 5.5 to six times earnings for eligible first-time buyers using the specialist product.
Several regulatory adjustments have facilitated increased mortgage accessibility throughout 2024 and 2025.
Furthermore, Nationwide lowered stress testing rates in May, broadened the scheme to include 95 per cent loan-to-value new build properties in June, and eased minimum income criteria in July.
First-time homebuyers are looking for the best deals
|
GETTYHenry Jordan, Nationwide’s group director of mortgages, said: “These latest figures for the past 12 months show that our decision to increase borrowing up to six times income has been a gamechanger for thousands of first-time buyers.”
He added: “But we’re not stopping there, and with the support of Government and regulatory changes throughout 2025, we’ve been able to progressively increase our support for potential homeowners.”
The Helping Hand programme has facilitated £13billion in lending since its introduction in April 2021.
More than 63,000 individuals have purchased their first properties through the initiative over this period.
Buyers using the scheme are typically in their early thirties, according to Nationwide Building Society.
Solo applicants average 31 years of age, whilst those applying jointly tend to be marginally younger at 30.
The product offers qualified first-time purchasers the opportunity to secure five or ten-year fixed-rate mortgages with deposits starting at 5 per cent.
This contrasts with Nationwide’s conventional lending cap of 4.5 times income.
LATEST DEVELOPMENTS:
The scheme has proved most popular in regions with elevated property prices.
The Outer South East leads adoption, representing 28 per cent of all Helping Hand mortgages, encompassing areas including Brighton and Hove, Milton Keynes, Portsmouth and Oxfordshire.
London accounts for 23 per cent of the mortgages, whilst the South West comprises 12 per cent. The North West shows markedly lower uptake at just 4 per cent, despite constituting 11 per cent of Nationwide’s overall first-time buyer lending.
Application patterns vary geographically. Scotland sees 92 per cent single applicants, with the North recording 87 per cent solo applications. Conversely, joint applications make up 45 per cent of cases in the Outer South East.
