Consumer credit borrowing exceeds repayments for first time since August June 29, 2021 Households borrowed more in consumer credit than they repaid in May for the first time since August, according to Bank of England data published on Tuesday. Net consumer credit was £280m in May, reversing a trend seen throughout the majority of the pandemic as households reined in spending whilst the economy was shuttered. The positive [...]
Nationwide to cull 150 mortgage advisers in online shift May 30, 2021 Nationwide will axe up to 150 of its mortgage advisers, as the lender shifts to holding online consultations with borrowers instead of than face-to-face meetings. Many of the 150 mortgage consultants are expected to accept voluntary redundancy, the Mail on Sunday first reported. Nationwide now carries out more than half of its mortgage consultations through [...]
Nationwide launches £1m monthly prize draw for customers May 26, 2021 Millions of Nationwide Building Society customers will have the chance to win up to £100,000 in a new monthly prize draw, without having to do anything to take part. Those eligible will be automatically entered for the chance to win a share of a total £1 million per month prize pot. Britain’s biggest building society [...]
Nationwide customers saved a further £10.6bn over the pandemic May 21, 2021 Customer deposited increased by £10.6bn throughout the pandemic, Nationwide said today, while remote working has made its workforce ‘more productive’ in the year to 4 April. With lockdown restrictions closing high streets and putting a pin in travel, Nationwide found deposits increased by double what they increased by in 2019, as customers stashed cash into [...]
London houses now average £500,000, as UK-wide prices rise at fastest rate in 14 years May 19, 2021 London houses now average £500,000, as UK-wide prices rise at fastest rate in 14 years
Nationwide to lend first-time buyers five times their income on long-term mortgage April 20, 2021 First-time buyers with deposits as low as 10 per cent will be able to borrow five and a half times their income when taking out a longer-term mortgage, the UK’s biggest building society said this morning. Nationwide Building Society said that under its “helping hand” initiative, first-time buyers across the UK will have the option [...]
UK house price rises slow down in March as demand softens: Nationwide March 31, 2021 House price growth slowed down this month with prices going up by 5.7 per cent compared to March of last year, mortgage lender Nationwide said this morning. Last month, property prices rose by an annual 6.9 per cent, while house prices edged down by 0.2 per cent month-on-month in March. Across the UK, the average [...]
Nationwide to let all 13,000 office staff work from home permanently March 25, 2021 Nationwide will allow all 13,000 of its office staff to permanently work remotely when coronavirus restrictions are eased. The building society said office staff can work from anywhere in the UK, as it “puts them in control of how they balance their work and home lives”. The move follows a survey of Nationwide employees, [...]
Nationwide U-turns on business banking debut over coronavirus April 3, 2020 Nationwide has abandoned plans to enter the business banking market, blaming coronavirus for making it commercially unviable. The building society will return a £50m grant from a pool of RBS cash to foster competititon among British banks as it scales back ambitions in the face of the outbreak. “The impact of Covid19, including assumption changes [...]
Nationwide pulls sales of mortgages for small deposit holders March 31, 2020 Nationwide is temporarily pulling its mortgage offering for low-deposit borrowers including first-time buyers as Britain’s biggest building society grapples with the impact of coronavirus on the housing market. Nationwide said that from Tuesday it would withdraw all fixed-rate and tracker mortgages above 75% loan-to-value (LTV) from sale for remortgage, first-time buyers, and new house purchases. [...]