Oct 05, 2012
Nationwide has announced it will no longer offer interest-only mortgages to new or additional borrowers. The change takes effect from Thursday 11th October. A statement from Nationwide today read:
“We will no longer offer interest-only mortgages for any new or additional borrowing. Existing customers may retain their interest-only mortgage, but cannot increase their borrowing on that basis. There are no other changes to criteria or products.”
Let’s hope this is this is not the first of many …..