Nationwide has confirmed that it will re-enter the restricted resale market from next week as part of a criteria shakeup.
Nationwide has confirmed that it will re-enter the restricted resale market from next week as part of a criteria shakeup.
The lender left the market around two years ago and therefore largely passed the baton to Halifax.
The resale market refers to properties with restricted covenants attached to their title deeds specifying who the property can be resold to.
A society spokeswoman said: “Nationwide is planning to re-enter into restricted resale lending via intermediaries from next week, and Nationwide’s new build range can be accessed on a restricted resale basis.”
The society will also update its ‘genuine bargain price lending’ criteria for homeowners who wish to sell at less than the market value, for example to a family member or friend.
At the same time the lender will offer intermediaries access to unencumbered remortgages.
