Nationwide Equity Release (Jan 2022)
Nationwide Lifetime Mortgage Review
Contributors: Nicola Date, Katherine Read. Edited by Rachel Wait & Reviewed by Francis Hui
Are You Considering Nationwide Equity Release? What are the Pros, Cons & Costs? Discover If Nationwide Lifetime Mortgage Schemes are for You.
Before You Start Reading...
Let's See How Much You Can Release 👇
I think you’ll agree with me when I say:
It’s REALLY hard to choose who is the best company for equity release all the choices available.
Or is it?
Is Nationwide equity release the best?
The companies we profile, are the best in the business to help you unlock the cash tied into your home.
- Understand the services that Nationwide offers.
- Determine if they might be able to assist you and your family on your equity release journey.
As experts in the equity release field (we’ve reviewed more than 250 schemes!), we’ve combed the market, researched all equity release service providers and narrowed it down to who’s on top.
What’s Equity Release?
An equity release mortgage (See What’s Equity Release?) is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. We’ve summed up the most important information about the topic in this quick video.
Who Are Nationwide?
With more than 15 million members, the Nationwide Building Society is the world’s biggest building society and 1 the seventh-biggest cooperative financial institution. Swindon, England, is home to its headquarters.
What About the Nationwide Equity Release Calculator?
Before you consider using the Nationwide calculator, please take note.
Our providers can almost always match & BEAT any existing equity release quote that you find through Nationwide. So first use this calculator below & see how much you can release.
How Much Can You Release?
Use the FREE Calculator 👇
It's VERY FAST and, takes just 8 seconds
Why Consider Nationwide?
Nationwide Building Society is an established equity release brand and is considered one of the best equity release providers in the UK.
Their awards include:
The 2021 Moneyfacts Consumer Award
Nationwide Reviews & Ratings
- Uk.TrustPilot.com – Nationwide Reviews
- ReviewCentre.com – Nationwide Reviews
- Reviews.io – Nationwide Reviews
- SmartMoneyPeople.com – Nationwide Reviews
Nationwide Equity Release Complaints
If you’re unhappy with Nationwide and would like to make a complaint then the best way to do this is reach out directly on their website. The alternative is to use a review site such as Trustpilot or Feefo and leave a review and they’ll respond timeously.
Nationwide Pros & Cons
Nationwide Pros
- Retain 100% property ownership.
- Pay up to 10% of your loan annually
- £1,000 cashback paid once your mortgage application is finalised.
- One of the UK’s largest high street lenders.
- No advice, valuation, or product fees
- FCA regulated.
- No negative equity guarantee
Nationwide Cons
- Nationwide doesn’t offer as much flexibility as other lenders, which allow customers to make extra withdrawals whenever they please.
- The early repayment rules are stricter than those offered by other lenders.
- Interest can compound quickly, leaving little for your heirs after you die.
Learn More: How Much Can You Release? Use the Equity Release Mortgage Calculator!
Nationwide Qualification Criteria
- Minimum Amount of Equity Offered: £10,000
- Maximum Amount of Equity Offered: £1 million (£515,000 for Wales & Scotland)
- Minimum Age Limit: 55 years
- Maximum Age Limit: 84 years (94 if you already have a Nationwide mortgage.
- Property Minimum Value: £70,000
- Property Types: Can’t be a Grade 1 or 2 listered property or sheltered accommodation. Nor can it be next to, above or opposite commercial premises.
Nationwide's Equity Release Plans & Lifetime Mortgage Schemes
Nationwide’s Scheme Features
- Interest Rates Offered: The figure will be based on a risk assessment.
- Customer Review Ratings: A+
Special Features
- The Equity Release Council’s ‘no negative equity guarantee’.
- No fees.
- Free specialist mortgage advice.
- Should you wish to, you can pay up back up to 10% of your loan yearly.
- The flexibility to borrow more in the future.
| Product Name | Type | Interest Rate The interest rate is the cost of borrowing the principal. | APR The APR includes not only the interest expense on the loan but also all fees and other costs involved in procuring the loan. |
|---|---|---|---|
| Product Name | Type | Interest Rate The interest rate is the cost of borrowing the principal. | APR The APR includes not only the interest expense on the loan but also all fees and other costs involved in procuring the loan. |
- No Schemes Listed Yet
Not what you're looking for?
Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare the equity release rates!
Learn More About Nationwide
Nationwide is a building society that is owned by and operated for the benefit of its members. (If you bank, save, or have a mortgage with them, you’re a member.) Many of the Society’s employees, as well as its families and friends, are members. Nationwide has millions of members and is working to establish a better society across the country.
FCA Details
FCA Address
Nationwide House
Pipers Way
Swindon
Wiltshire
SN38 1NWS N 3 8 1 N W
UNITED KINGDOM
Trading Names
- Nationwide for business
- Nationwide International
- Nationwide Financial Solutions
- The Derbyshire
- Dunfermline Building Society
- Dunfermline Direct
- Cheshire Building Society
- Derbyshire Building Society
- Derbyshire Direct
- Nationwide UK (Ireland)
- Nationwide for Business
- Nationwide International
- KPR Debt Collection
- Salt Commercial
FCA Permitted Services
- Banking
- Insurance
- Mortgages & Home Finance
- Consumer Credit
- Pensions
- Investments
Regulators
- Financial Conduct Authority
- Financial Services Authority
Registration Numbers
- FCA Ref Number: 106078
- FCA Reg Number: 0000355B
Nationwide Info
- Nationwide House, Pipers Way, Swindon SN3 1TX
- 0800 30 20 11
- contact@nationwide.co.uk
Got Questions About Nationwide & Lifetime Mortgages?
Is Nationwide A Member of the Equity Release Council?
What Are Nationwide's Interest Rates on Equity Release?
Who Owns Nationwide?
Where is Nationwide Located?
Conclusion
Before You Go...
Let's See How Much You Can Release 👇
Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.
