Nationwide angers first-time buyers with ‘crazy’ change to mortgage scheme NATIONWIDE has angered first-time buyers after making a "crazy" change to a mortgage scheme aimed at first-time buyers.
But prospective buyers were left enraged this week when they realised the lender had increased the minimum income threshold for solo buyers.
Myron Jobson, senior personal finance analyst at interactive investor, said the move compounds "first-time buyers’ struggles by adding yet another hurdle to an already challenging market".
Prior to the change, applicants looking to buy a home by themselves could get approved for the Helping Hand scheme if they had a annual income of £35,000.
The lender's Helping Hand mortgage helps wanna-be property owners borrow up to six times their income.
