Nationwide has seen a 53% increase in the number of first-time buyers taking advantage of the Helping Hand mortgage boost over the past year, it was revealed today.
The service allows those taking their first step on the property ladder to borrow up to six times their income, as opposed to the standard 4.5 times income offered by most providers.
Thanks to rule changes implemented by regulators, lenders can now offer these larger loans to more customers. And this allows Nationwide to offer the Helping Hand mortgage to more starters.
Furthermore, in September last year, Nationwide increased the amount it would lend through Helping Hand from 5.5 times to six times an applicant’s income.
For example, Nationwide announced that it has helped 23,000 new buyers using Helping Hand in the last 12 months – a 53% annual increase from 15,000.
The number of customers who can purchase new construction through the Helping Hand scheme has also increased by 102% in the past year.
Henry Jordan, group mortgage director at Nationwide, said: “Affordability remains a key barrier to home ownership. We launched Helping Hand in April 2021 to address this, and we are delighted to see the positive impact this has had for so many of our members, helping more than 63,000 people into their first home.
“These latest figures from the past twelve months show that our decision to increase borrowing to six times income has been a game changer for thousands of first-time buyers.
“But we won’t stop there, and with the support of government and regulatory changes in 2025, we have been able to gradually increase our support for potential homeowners, while continuing to put first-time buyers first.”
With schemes like Help to Buy axed, Nationwide’s Helping Hand is a pioneer in the mortgage sector in innovation for first-time buyers.
Experts say the jump in the number of people using mortgages highlights the demand for schemes that help more people into their own home.
Nicholas Mendes, mortgage technical manager at John Charcol, said: “Nationwide’s figures show how positive innovation can be in the mortgage market. A 53% increase in the number of first-time buyers using Helping Hand over the past year underlines the pent-up demand among aspiring homeowners and the impact of more flexible lending criteria.”
He added: “This isn’t just about bigger loans. It’s about enabling financially stable borrowers, such as key workers and young professionals, to buy faster and with more confidence.
“The expansion to 95% of mortgage rates for new homes also supports construction activity at a time when increasing housing supply remains a national priority.”
More about Helping Hand
Nationwide’s Helping Hand was launched in April 2021. It gives eligible first-time buyers the opportunity to borrow up to six times income when taking out a five- or 10-year fixed-rate mortgage for up to a loan-to-value (LTV) of 95%. This represents an increase of 33% compared to Nationwide’s standard loans, namely 4.5 times.
An eligible first-time buyer earning £30,000 with a 5% deposit can borrow up to £180,000 with a Helping Hand mortgage – £45,000 more than without it (£135,000).
A couple with a joint income of £50,000 and the same deposit could borrow up to £300,000, compared to just £225,000 without a Helping Hand – an increase of £75,000.