"These changes offer improved choice and flexibility across our remortgage range. "
Last year Nationwide temporarily withdrew the free standard legals option for remortgage customers and, at the same time, increased the cashback alternative from £250 to £500.
Now the Society is reintroducing free standard legals, whilst maintaining the £500 cashback option.
In addition, the maximum loan size for mortgage members borrowing up to 95% LTV will increase from £250,000 to £350,000, aiming to help first-time buyers in areas of higher house prices, notably London and the South East.
Henry Jordan, Nationwide’s Director of Mortgages, said: “These changes offer improved choice and flexibility across our remortgage range. Also, by increasing the maximum loan size available to those with small deposits, it will enable more buyers to take their first step onto the housing ladder.”
