Nationwide For Intermediaries has increased the sole applicant minimum income for its Helping Hand mortgage initiative.

It has increased the sole applicant minimum income from £35,000 to £40,000.

The lender said it made the decision to ensure it remains within the regulatory limit for lending to customers borrowing at higher loan to income levels.

With Helping Hand, first-time buyers can borrow up to six times their income.

That is up to 33% more than Nationwide’s standard lending.

Helping Hand is available up to 95% LTV across Nationwide’s five and 10-year fixed rate mortgages.

Borrowers can also receive £500 cashback on completion, with up to £500 more for energy efficient homes.