A new Nationwide rule kicks in for customers who earn over £40,000 from today. From today, Tuesday 12 August, homeowners who are looking for a new mortgage deal may benefit from enhanced affordability when applying to remortgage to Nationwide.

That means that Nationwide will apply a different affordability calculation when eligible applicants take out a five or 10-year fixed rate product, which may enable them to borrow more.

The enhanced criteria will be available for both employed and self-employed applicants. Sole applicants will need a minimum income of £40,000 and joint applicants a minimum of £70,000 to benefit from this enhanced affordability check.

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All applications will continue to be subject to a robust

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