Nationwide Building Society has changed the way it calculates the maximum loan amount members can be given. For some customers, this could result in as much as £33,000 in borrowing.

An individual or couple with an income of £70,000 - who is remortgaging to Nationwide from a different lender and wants to take additional borrowing - could now borrow a maximum of £314,300.

This is an increase of £33,600 based on them having a mortgage with 20 years remaining on the term. Nationwide said the change "provides higher affordability for eligible customers who'll have a track record of mortgage payments and greater payment security through a rate fixed for at least five years".

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Henry Jordan, Nationwide's Director of

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