Many people could be eligible for a £500 payment, with further cash provided in certain circumstances
Nationwide has been reaching out to members who might “want help getting started”, with potential eligibility for up to £1,000 cashback through a current offer. Part of emails sent out read: “Buying your first home is exciting – but it can also feel overwhelming.
“That’s why we’ve created tools, guides and mortgage options to help you move forward with confidence. Whether you’re just beginning your home-buying journey, or are ready to take the next step, we’re here to support you.”
The building society provides a first-time buyer guide alongside a mortgage calculator, with its first time buyer mortgage package including £500 cashback. Further information on Nationwide’s website reads: “Imagine what you could do in your new home with £500.
“That’s what you get when you move in with a Nationwide first time buyer mortgage. You will receive the money within 1 month of completion. If applying jointly, you both need to be first time buyers – you can’t have had a mortgage in the last 3 years. It’s £500 total whether you’re buying your home alone or with someone else.”
Should the property you’re purchasing be environmentally friendly, you could secure an additional £250-£500 on top. Most UK properties require an Energy Performance Certificate (EPC), with each home receiving a rating – the higher the score, the more eco-friendly the property.
Through Nationwide’s Green Reward scheme, properties scoring 86-91 attract £250 cashback, whilst homes achieving 92 or above qualify for £500. Before applying for a mortgage, people can obtain a Decision in Principle to work out what they may be able to borrow.
This, Nationwide adds, takes around 20 minutes, is valid for 90 days, and does not affect your credit score.
