There's an interesting FT article here about a growing disagreement between brokers and Nationwide, regarding the lender's new, more complex method of calculating what it's willing to lend on a mortgage. Replacing the old income multiplier system is a complex equation involving net disposable income, cost-of-living, loan-to-value and the cut of a borrower's jib. Nationwide claims it will become more generous, lending up to 4.5 times income. But not according to the brokers. Ray Boulger of John Charcol claims to already have seen a reduction in offers in most cases.

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