Nationwide lowers six-times-income mortgage threshold to £75,000

Nationwide lowers six-times-income mortgage threshold to £75,000 for joint applicants

 

Nationwide Building Society has made its six-times-income mortgage affordability rules available to significantly more borrowers by lowering the minimum eligible income required for joint applicants.

From Thursday 16 July 2026, new joint applicants may be able to borrow up to six times their combined eligible income when earning at least £75,000. The previous joint-income requirement was £100,000.

The change could help more couples or friends buying together to secure a sufficiently large mortgage when moving home or remortgaging and raising additional funds. Nationwide’s intermediary affordability criteria confirm that the £75,000 minimum now applies to both sole and joint applicants.

Who can qualify for Nationwide’s six-times-income mortgages?

New borrowers may potentially qualify for a mortgage of up to six times their eligible income when they are:

• Moving home; or

• Remortgaging and taking additional borrowing; and

• Earning an eligible income of at least £75,000, whether applying individually or jointly.

The enhanced affordability calculation is available to employed and self-employed applicants, although all applications remain subject to Nationwide’s affordability assessment, credit scoring, loan-to-value restrictions and wider lending criteria.

The change does not mean every borrower earning £75,000 will automatically receive a mortgage equal to six times their income. Nationwide will still examine the applicants’ financial commitments, credit agreements, dependants, regular expenditure and the proposed mortgage term.

For example, a couple with a combined eligible income of £75,000 could potentially qualify for borrowing of up to £450,000. Under a more conventional 4.5-times-income calculation, the maximum would be approximately £337,500.

This represents a potential increase in borrowing capacity of £112,500, although the amount offered will depend on the applicants’ individual circumstances.

What are the rules for existing Nationwide mortgage customers?

Nationwide is also offering enhanced affordability to existing mortgage borrowers who are:

• Moving home;

• Porting their current mortgage; or

• Applying for additional borrowing.

There is no minimum income requirement for qualifying existing Nationwide customers. Someone with an eligible income of £50,000, for example, could potentially borrow up to £300,000, subject to affordability and the lender’s usual criteria.

This may be particularly helpful for borrowers who originally took a Nationwide Helping Hand mortgage in 2021 and are approaching the end of their initial fixed-rate period.

Existing customers should not assume that staying with Nationwide will automatically provide the most suitable option. It can still be sensible to compare Nationwide’s porting or additional-borrowing terms with mortgages available from other banks and building societies.

Does Nationwide offer six-times-income mortgages to first-time buyers?

Nationwide’s Helping Hand mortgage continues to provide enhanced borrowing for eligible first-time buyers. The scheme can offer borrowing of up to six times income, potentially providing around 33% more than Nationwide’s standard income multiple.

Helping Hand has separate eligibility rules from Nationwide’s higher loan-to-income options for home movers and remortgage borrowers. Applicants normally need to take an eligible five or ten-year fixed-rate mortgage and provide a deposit of at least 5%.

Self-employed first-time buyers should take advice before applying because the Helping Hand scheme has different employment criteria from Nationwide’s enhanced affordability options for home movers and remortgage customers.

Why has Nationwide relaxed its affordability rules?

Competition for borrowers requiring higher income multiples has increased considerably. More banks and building societies are now prepared to consider lending at five, 5.5 or six times income for selected customers.

These arrangements can be particularly useful in areas where property prices have risen faster than earnings. They may also help borrowers with strong career prospects or dependable incomes whose borrowing requirements sit slightly above a lender’s standard affordability limit.

The timing of Nationwide’s criteria change is notable because the building society has simultaneously increased selected fixed and tracker mortgage rates by as much as 0.35 percentage points. Its repriced range includes products for first-time buyers, home movers, remortgage applicants and existing customers moving home.

Aaron Strutt, Product Director at Trinity Financial, says: “More banks and building societies are offering mortgages of up to six times salary as they compete to increase their lending volumes. Nationwide is clearly making this change to help more borrowers raise a sufficiently large mortgage to purchase the property they want.

“In many cases, homebuyers do not need to borrow the full 5.5 or six times their income. They may simply need a more generous income multiple to borrow slightly more than the amount available under standard affordability limits.

“The timing is particularly interesting because Nationwide has just increased many of its mortgage rates by up to 0.35 percentage points. When mortgage pricing becomes less competitive, lenders will often look at other ways to attract borrowers, including more flexible affordability or acceptance criteria.

“Nationwide is already one of the leading lenders in the income-stretch mortgage market, particularly through its Helping Hand scheme for first-time buyers. Lowering the joint-income threshold from £100,000 to £75,000 means its higher income multiple will now be available to a much wider group of home movers and remortgage applicants.

“Borrowing six times income will not be suitable or affordable for everyone. However, for borrowers with dependable incomes who need a modest affordability boost, the new rules could make the difference between securing the property they want and having to reduce their budget.”

How Trinity Financial’s mortgage brokers can help you get a mortgage

Mortgage lenders calculate affordability in different ways. Some may offer higher income multiples to borrowers working in particular professions, earning bonuses or commission, receiving investment income, or expecting future increases in earnings.

Trinity Financial’s brokers can compare Nationwide’s affordability calculation with those offered by other banks and building societies. They can also establish how lenders will assess employed and self-employed income, financial commitments, mortgage terms and deposit levels.

A six-times-income mortgage may provide additional borrowing capacity, but the interest rate, arrangement fee, monthly payment and overall cost should also be considered. The lender offering the largest mortgage is not necessarily the lender offering the most suitable deal.

Call Trinity Financial on 020 7016 0790 to secure a larger mortgage loan, book a consultation, or complete our mortgage questionnaire. 

The information contained within was correct at the time of publication but is subject to change.

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