Nationwide Equity Release Review

Is Nationwide Equity Release the Right Option for You?
Contributors: Nicola Date, Katherine Read. Edited by Rachel Wait & Reviewed by Francis Hui
Are You Considering Nationwide as Your Equity Release Provider? Understand the Pros, Cons, Interest Rates & Qualification Criteria. Decide Here if This Is the Right Option for You.

Before You Start Reading…

How Much Can You Release? 👇

 

Equity Release Calculator

Value of Your Home?

50000

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Is Nationwide equity release the best?

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?

The companies we profile, are the best in the business to help you unlock the cash tied into your home.We’re here to help you:

  • 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.

Is Nationwide the ideal equity release loan company to assist you and your family?

Let’s find out NOW!

TABLE OF CONTENTS

What’s Equity Release?

An equity release mortgage 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.

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.

How Did We Review Nationwide Equity Release?

We reviewed Nationwide Equity Release by analysing its full offering, comparing it to similar lenders, and reviewing its customer satisfaction.

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 Calculator Below 👇

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Safe & Fast

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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

How Did We Review Nationwide?

We reviewed Nationwide by gathering all the latest information available about it.

This information was then thoroughly researched, vetted and then added to this review for your ease of reference.

Our review of Nationwide is independent, and we are not affiliated with it.

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 Trustpilot² or Feefo³, and leave a review and they’ll respond timeously.

Pros & Cons

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

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.

Editor’s Rating: 4.80

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 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.

Nationwide Equity Release Interest Rates

Nationwide equity release interest rates range between 4.06% and 4.86%, depending on your age and property value.

Schemes Compared

Are you looking for a specific equity release scheme?

Have a look at all the equity release schemes available on the market.

What Are Nationwide’s Fees?

Nationwide fees may include an application fee.

It may also offer you a free valuation; however, sometimes providers charge for this depending on your plan.

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.

Nationwide Jobs

Nationwide has a ton of job opportunities at its company, as advertised on its comprehensive jobs site.

You can opt for a head office position in the technical team or in customer support.

What’s more, Nationwide endeavours to hire a diverse staff.

Find out more right here.

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 (FAC)
  • Financial Services Authority Now the Prudential Regulation Authority (PRA)

Registration Numbers

  • FCA Ref Number: 106078
  • FCA Reg Number: 0000355B

FCA Link

Nationwide Contact Number

Got Questions

Is Nationwide a Member of the Equity Release Council?

What Are Nationwide's Interest Rates on Equity Release?

Who Owns Nationwide?

Nationwide Jobs?

Where is Nationwide Located?

Does Nationwide Do Equity Release?

Is Nationwide Equity Release Safe?

Conclusion

So here’s the scoop – our intention is to help you by finding the best Nationwide Equity Release lifetime mortgage so that you can spend the money on something that you really want, rather than on a high tax bill.

Additional Reading:

Before You Go…

Use the FREE Calculator Below 👇

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Safe & Fast

Featured In
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Editorial Note: This content has been independently collected by the SovereignBoss 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.