Helping Hand Mortgage
Helping First-Time Buyers Secure Their Dream Home
For many first-time buyers, affordability is the biggest obstacle to getting onto the property ladder. That’s why Nationwide’s Helping Hand Mortgage is designed to provide a much-needed boost.
With this innovative scheme, eligible first-time buyers can borrow up to 6 times their income, compared to the standard borrowing limit of 4.5x income.
Exclusively available on 5- and 10-year fixed-rate products, this scheme helps first-time buyers access up to 33% more borrowing power to purchase the home they’ve been dreaming of. At RS-Financial, we’re here to guide you through the eligibility process and make securing your first mortgage as smooth as possible.
Helping Hand Mortgage Features and Benefits
- Higher Borrowing Power: Borrow up to 6x your income, making it easier to afford your first home.
- Available Up to 95% LTV: Helping Hand is available across all 5- and 10-year fixed-rate products at Loan-to-Value (LTV) tiers up to 95%.
- £500 Cashback: Nationwide offers a £500 cashback on completion to help with moving costs.
- Extra Green Reward: If your new home meets energy efficiency standards, you could receive an additional £500 Green Reward.
- Tailored for First-Time Buyers: Exclusively designed to help those buying their very first property.
This scheme allows you to include multiple income sources, giving first-time buyers greater flexibility in demonstrating affordability.
Who Is Eligible for the Helping Hand Mortgage?
The Helping Hand Mortgage is a fantastic opportunity for many first-time buyers, but it does have specific eligibility criteria:
Applicant Requirements:
- All applicants must be first-time buyers.
- Applicants must apply for a 5- or 10-year fixed-rate product (it is not available for variable or shorter fixed terms).
- The scheme is not available for self-employed income; only employed income will be considered.
Income Thresholds:
- For single applicants, the minimum income must be £40,000 annually.
- For joint applicants, the combined income must be at least £55,000 annually, with no individual earning below the £40,000 threshold.
Exclusions:
- This scheme is not available in conjunction with other schemes, such as Shared Ownership, First Homes, Right to Buy, or Help to Buy.
- Self-employed applicants are excluded, as self-employed income cannot be used to qualify.
- Interest-only mortgages are not permitted under this scheme.
Affordability and Credit Assessment:
- Meeting the eligibility criteria does not guarantee acceptance. Nationwide will conduct affordability checks that take into account your credit score, existing debts, and financial circumstances.
Why Choose RS-Financial for Your Mortgage Advice?
Navigating the mortgage market as a first-time buyer can feel overwhelming, especially when there are so many criteria and options to consider.
At RS-Financial, we make the process simple and stress-free by providing expert advice tailored to your specific needs.
Here’s how we help first-time buyers like you:
- Determine Eligibility: We’ll assess your circumstances to confirm whether you qualify for the Helping Hand Mortgage or other schemes.
- Maximise Borrowing Potential: By understanding Nationwide’s lending criteria, we ensure you get the most out of your mortgage application.
- Compare Options: While Helping Hand is an excellent product, it may not always be the best fit. We’ll explore and compare mortgages across lenders to secure the best deal for you.
- Support Throughout the Process: From your initial consultation to mortgage completion, we’ll guide you every step of the way.
Key Benefits of Nationwide’s Helping Hand Mortgage
- Borrow up to 6 times your income, significantly increasing your borrowing power.
- Secure a mortgage with up to 95% LTV, making it easier to buy with a smaller deposit.
- Enjoy £500 cashback on completion to help with moving costs, plus an additional £500 Green Reward for energy-efficient homes.
- Gain peace of mind with predictable monthly repayments through a 5- or 10-year fixed-rate mortgage.
How to Apply for the Helping Hand Mortgage with RS-Financial
If you’re ready to explore how the Helping Hand Mortgage could work for you, RS-Financial is here to make the process as smooth as possible. Here’s how it works:
- Speak to an Advisor: Contact us to discuss your financial situation, income, and property goals.
- Eligibility Assessment: We’ll determine whether you meet the criteria for the Helping Hand Mortgage or another product that suits your needs.
- Secure the Right Mortgage: Once we’ve found the right deal, we’ll guide you through the application process and help you meet Nationwide’s requirements.
Start Your Journey to Homeownership Today
ou might hear that getting onto the property ladder is one of the most challenging and stressful steps you’ll take. But there’s no need to worry—speak to us at RS-Financial, and we’ll put your mind at ease. We’re here to guide you every step of the way (we’ll even hold your hand if needed). Having been first-time buyers ourselves, we understand the journey, and we’ve had the privilege of helping countless others make their first purchase a reality.
When it comes to lenders, each bank and building society has its own approach to first-time buyers. Some will lend more, others may offer better rates, and a few will even have more favourable terms for first-time buyers than for existing homeowners. Our advice? Give us a call or send us a message on WhatsApp, and let us handle the details so you can focus on the excitement of buying your first home.
RS Financial is a trading name of Right Solutions Financial LTD. Right Solutions Financial LTD (917725) is a appointed representative of Andrew Nolan Mortgages LTD which is authorised and regulated by the Financial Conduct Authority . Andrew Nolan Mortgages LTD Parkhill Business Centre, Walton Road, Wetherby, West Yorkshire, LS22 5DZ (FCA 918720) A Commercial Buy to Let mortgage is where the borrower is acting by way of business and is not regulated by the FCA and therefore the provision of our service does not hold this additional level of consumer protection, unlike for residential mortgages.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments