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Non-Standard Property Hot Spots - Will the new Nationwide / Rightmove tool marginalise parts of the UK?

Journalist: Justin Moy, Contributing Editor

ended 15. May 2025

We are following up on the launch of the Rightmove / Nationwide property check tool that will let the enquirer know if the property is suitable (or not) for a mortgage.

https://www.mortgagestrategy.co.uk/news/nationwide-and-rightmove-launch-property-lending-check/ 

We understand from Nationwide that this will only reflect the property criteria of Nationwide policy, which may suggest some property types and construction options will show as ‘Not Suitable’ for a mortgage, when we know other lenders are more than fine with such properties. The concern is how the buyer and vendor will feel about this, in particular.

Do we have any Mortgage Brokers that work with alternative construction properties or areas in the UK where there is a high concentration of such properties that may struggle with this tool and Nationwides policy?

Drop us a note or comment, and if you have localised areas that will be a problem for this tool, we can look to feature you in more local press.

2 responses from the Newspage community

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Editor
Adam Stiles
Managing Director at Helix Financial Partners
Any innovation in an attempt to speed up a property purchase is of course welcome but I don't believe the unintended consequences of this collaboration have been thought out. Nationwide are a fantastic lender, but will have their own specific criteria when it comes to property types they are happy to lend on. This alienates all the other lenders who can lend on a much more diverse type of property. Ultimately this will impact buyers and sellers alike. Perhaps some sellers and agents opting for alternative platforms to sell their property or indeed having an adverse impact on sellers of property which Nationwide do not lend on.
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Editor
Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
Nationwide's tool may sound good on paper, but it's likely to struggle in the rarefied air of the real world. Cornwall is an example of where the tool may run into trouble. A lot of properties in the county were built with Mundic block between 1900 and 1960, which are concrete blocks containing mining waste such as pyrite. It's likely these properties may foul of the tool and Nationwide's policy, discouraging borrowers from applying. This is just one example of how the tool may run into trouble in the real world, but there are likely more dotted around the country, calling into question how useful the tool will actually be.