News

• Pandemic compounds existing issues, from rising house prices to a growing divide between owners and renters
• Nationwide Building Society takes broad approach by working across sectors and industries to find solutions
• Society joins raft of respected organisations and experts in housing, from Barratt Developments to Shelter
• Action groups aim to help find solutions to issues around housing affordability, accessibility and sustainability

• 63 per cent of people say the UK has a housing crisis, rising to 71 per cent of private renters
• A quarter of renters say pandemic has made it less likely they will be able to buy their own home
• 68 per cent of renters don’t think they will ever be able to afford a home to buy
• 57 per cent of households are now homeowners, down from 64 per cent in 2003
• Nationwide & Ipsos MORI research forms part of comprehensive ‘Future of Home’ report launching on Monday

The results of the voting at Nationwide Building Society's Annual General Meeting (AGM) held today, Thursday 22 July 2021, at Nationwide House, Pipers Way, Swindon, SN38 1NW.

• Nationwide’s Spending Report shows total number of transactions made in Q2 up 20% on Q1
• Non-essential spending up 60%, boosted by holidays, eating/drinking out, gardening & leisure
• £133.7 million spent on charities between April and June – 16% up on the first 3 months of 2021
• Contactless boom continues: mobile payments up 70% on the first quarter of the year
• Travelling again: spend on taxis above pre-pandemic levels; public transport spend still down

Nationwide is partnering with OpenWrks, a UK based provider of open banking applications, to help members facing financial difficulty.

• Five-year fixed at 60% LTV at 0.99% with £1,499 fee – available to home movers and remortgages
• Society gives further choice to homebuyers with introduction of new three-year fixed rate range with rates aligned to Society’s two-year products
• Selected two and five-year fixed rate products for home movers, first-time buyers and those remortgaging reduced by up to 0.40%

• Research from Nationwide highlights interest in green but lack of knowledge or action
• Urgent need to green homes – despite half of Brits saying they are environmentally friendly
• 53% don’t know what CO² means, 75% what net-zero means and 90% what EPC means
• Nationwide’s £1 billion loan fund is available for borrowers to green their homes

The Mortgage Works (TMW) is returning to lending at 80% on its buy to let, let to buy, large portfolio and limited company range of mortgages after withdrawing from the market at the height of the pandemic.

• World’s largest building society pledges to go net zero by 2050 and joins the Net-Zero Banking Alliance
• Nationwide will publish science-based targets on achieving intermediate 2030 goals over the next 18 months
• Society is calling for significant collective action to help communities reach net zero goals

Nationwide Building Society will be reducing selected fixed and tracker rates across its range by 0.35 percentage points from 30 June 2021.

• New cover aimed at giving protection at a time many have found themselves unable to work
• Covers income up to a maximum of £2,000 a month for up to 12 months and is paid monthly
• Research reveals 51% of under 35s say income protection more important since pandemic

On Friday 18 June, The Mortgage Works (TMW) is reducing selected five-year fixed rate buy-to-let remortgage rates by up to 0.30%.