Nationwide has not published details of the products which will go live on 20 July, but said: “As a responsible lender, enhanced criteria will apply.”
The property must be a house at least two-years old, the maximum mortgage term is 25 years and applicants will be subject to enhanced affordability and credit score criteria
New build is excluded but the lender said it will continue to lend through the Help to Buy scheme.
Nationwide added that the stamp duty cut, combined with a more active housing market following the lifting of lockdown restrictions, “has provided an opportunity for the society to return to higher LTV lending.
“Nationwide hopes the move will provide some more reassurance and opportunity for its members and the market following a period of such uncertainty.”