Nationwide becomes UK's top mortgage lender for first-time buyers according to CACI data

by Aaron Strutt

Feb 23 2025

Nationwide Building Society has lent to more first-time buyers than any other bank or building society in the UK by "prioritising those looking to get on the housing ladder." 

According to the latest industry data from CACI1, Nationwide topped the table for first-time buyer lending eight out of 12 months in 2024 and was the top lender for every month in the second half of the year. Nationwide provided over 180,000 mortgages in 2024 – with over one in three of these to first-time buyers.  

Nationwide increased its mortgage affordability calculation for first-time buyers from 5.5 to six times’ income in late September through its Helping Hand mortgage boost; this scheme enables higher loan-to-income lending and a maximum of 95 per cent loan-to-value. This was a surprising move by the normally conservative lender and has helped more young people get on the property ladder.

Would Nationwide’s six-times salary mortgage help you?

Helping Hand launched in April 2021 and accounted for 23 per cent of Nationwide’s first-time buyer mortgages in 2024. In 2020, the average loan size for first-time buyers was £159,000; in 2024, it was £197,000. For those who benefitted from Helping Hand, the average loan size last year was over a quarter higher (26%) at £249,000. 

Nationwide, like other lenders, is limited to lending no more than 15 per cent of its new mortgages to customers borrowing at or above 4.5 times their income – and currently earmarks the vast majority of this lending to first-time buyers. To help more first-time buyers, Nationwide is calling on the government to review this cap. Henry Jordan, Nationwide’s Director of Home, said: “We believe it’s important to put first-time buyers first given how tough it is to get on the housing ladder.”

Aaron Strutt, product director at Trinity Financial, says: "Nationwide is a decent mortgage lender and pushes hard to attract first-time buyers. It normally has competitively priced rates and can produce fast mortgage offers, especially when applicants have straightforward financial situations. Other lenders offer six times salary mortgages, but the rates are normally more expensive."

Halifax is also keen to attract first-time buyers

Many of Nationwide’s competitors are also keen to provide buyers with more first-time mortgages. Halifax, for example, currently offers a First-time Buyer Boost product where you can borrow up to 22% more than it could normally lend.

To qualify at least one person applying must be a first-time buyer. You must have a deposit of 10% or more to put down. The total household income of everyone applying must be a minimum of £50,000.

For example: If you have a total household income of £50,000 and a 10% deposit, the most you could borrow is £224,500. With the Halifax First Time Buyer Boost mortgage, you could borrow up to £275,000.

Call Trinity Financial on 020 7016 0790 to secure a first-time buyer mortgage, 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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