Nationwide Equity Release Reviews (Updated 2022)

Is Nationwide Equity Release Any Good & Safe? We Review the Pros, Cons & Scheme Features
Are You Considering Nationwide Equity Release? What Are the Pros, Cons & Costs? Read Our Reviews & Discover If Nationwide Lifetime Mortgage Schemes Are For You.
TABLE OF CONTENTS

Nationwide Equity Release

If you’re looking for more than just a bank, then you might want to consider equity release through a building society.

But, what does it mean to be a member of a building society?

With not-to-be-missed free online events about equity release, Nationwide Building Society is one of the leading equity release providers in the UK.

But is equity release with Nationwide right for you?

By reading this article, you will learn:

  • What is a building society?
  • Why consider equity release with Nationwide.
  • The pros and cons of Nationwide equity release.

In search of the top equity release providers, we combed through over 220 different plans, analysing who offers the most flexible products.

Through our analysis, we can confirm that Nationwide is worth your consideration.

Here’s why!

Before You Start Reading….

Let’s See How Much You Can Release 👇

 

Equity Release Calculator

Value of Your Home?

50000

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What’s Equity Release & How Does it Work?

Equity release is a loan against your primary residence for homeowners over 55. It works by your home being collateral against the loan.

The money is completely tax-free and can be released in a monthly salary, in a lump sum, or in a cash reserve that’s always accessible.

The loan and compound interest1 are usually repaid from the home’s sale when the last owner dies or enters long-term care.

What are the Most Common Equity Release Plans?

The most common equity release plans are a lifetime mortgage and a home reversion scheme.

While you retain 100% ownership of your property with a lifetime mortgage, you will sell all or a portion of your estate with a home reversion scheme.

Both plans are intended to last for life and are repaid when the homeowners have died or entered long-term care.

Are You Looking for the Nationwide Equity Release Calculator?

Before you consider using the Nationwide equity release calculator, we want you to know that we’ll probably be able to find you a better rate and that means a great saving!

Before You Start Reading….

Let’s See How Much You Can Release 👇

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Secure & Fast

It’s VERY FAST, takes just 8 seconds

What is a Building Society?

A building society is a mutual organisation2 whose members own the assets.

Building societies provide banking and financial services, including savings and home mortgage loans, among other things.

An Introduction to Nationwide

Originally known as the Co-operative Permanent Building Society, they were established in London in 1884.

With massive expansion over the years, they eventually became Nationwide in 1970.

Today, they are a member-owned mutual, aiming to serve the UK community. One of the benefits of becoming a member of Nationwide is that you can access member-only products.

What Is the Maximum Equity I Can Get from Nationwide Building Society?

The maximum equity that you can unlock with Nationwide is £1 million. However, the maximum is £515,000 if you are located in Wales or Scotland.

The amount of cash you can unlock will depend on your age and property value.

The Pros & Cons of Equity Release with Nationwide

The pros and cons of equity release with Nationwide include that there are no valuation or product fees, but they only offer lifetime mortgage products and no other types of equity release.

Pros of Equity Release with Nationwide

  • £1000 cashback on completion.
  • People with existing Nationwide3 mortgages can get a loan up to age 94.
  • Flexible repayment options.
  • There’s flexibility to borrow more in the future.
  • There are no mandatory monthly repayments.
  • Downsizing protection.
  • Free valuation and no application fees.

Cons of Equity Release with Nationwide

  • You can borrow less if you’re in Wales or Scotland.
  • The interest can compound quickly if you don’t make any repayments.
  • Loans are not available in Isle of Man, Isles of Scilly, Channel Islands, non-mainland Scotland or Northern Ireland.

Nationwide Reviews

Nationwide Equity Release Complaints

If you’re dissatisfied with your experience and want to file a complaint, the easiest way to do so is to contact them directly through their website.

They are concerned about their clients’ needs and will refer you to the appropriate department.

Alternatively, you can submit a review on a review site like Trustpilot or Feefo, and they will swiftly contact you to assist.

Nationwide Product Features

Nationwide offers lifetime mortgages with flexibility product features. These include:

  • No mandatory monthly payments.
  • Fixed interest rates for life.
  • Maximum loan amount of £1 million.
  • Downsizing protection.
  • No fees and a free valuation.
  • Free specialist advice.
  • Cashback on completion.
  • No negative equity guarantee.
  • Flexible repayments.
  • Flexibility to borrow more in the future.

Is Nationwide Right for Me?

You will know that Nationwide is right for your equity release if they’re recommended by your financial adviser.

As one of the leading industry providers, Nationwide Building Society is definitely worth considering for equity release, whether you’re an existing member, or not.

Nationwide Contact Number

Got Questions About Nationwide Building Society?

Is Nationwide a Member of the Equity Release Council?

Who Owns Nationwide?

Does Nationwide Do Equity Release?

Is Nationwide Equity Release Safe?

Conclusion

If you’re looking for Nationwide Building Society equity release and want the best rate use the form below.

Before You Go…

Use the FREE Calculator Below 👇

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Secure & Fast

It’s VERY FAST, takes just 8 seconds

Editorial Note: This content has been independently collected by the EveryInvestor advisor team and is offered on a non-advised basis. EveryInvestor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.