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Two of Derby’s most pivotal housing developments for a generation have been effectively blacklisted for mortgages by Nationwide. Both the Castleward scheme and the Nightingale Quarter, representing a combined £275 million of investment and a total of 1,625 homes in the city centre, have been added to a “closed site list” by Nationwide, barring them from mortgage applications.
The building society says new-build developments can be added to a “closed site list” after being assessed by an area valuer who will analyse “a variety of factors including location, quality, ground rent and future saleability”. Nationwide has been approached for further detail on why each site has been added to its blacklist.
Both schemes have received extensive praise from the city council, Homes England and Members of Parliament, with the now Prime Minister and deputy touring the Nightingale Quarter earlier this year and a
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