News

• Nationwide poll reveals 84% agree cost-of-living has impacted purchase of first property 
• Deposit and ability to afford mortgage payments act as major hurdles, with more than half willing to relocate to afford a home 
• Nationwide offers a range of options and support to help people into their first home 
• Britain’s biggest building society calls on government to boost homeownership as it prepares to publish Housing White Paper alongside Building Societies Association 

The Mortgage Works (TMW) will be reducing rates on selected buy-to-let and limited company products by up to 0.40 percentage points. The new rates will be effective from Tuesday 26 March.

• Deal to deliver greater value to Nationwide members and access to wider range of services over time.
• Branch Promise extended by two years.

Nationwide Building Society is today (19 March 2024) launching new issues of its Fixed Rate ISAs.

• Website translation service comes as Sign Language Week begins in the UK
• Enhances support Nationwide offers Deaf customers in branch and contact centres
• Just 6% of financial services firms¹ offer websites in British Sign Language (BSL)
• Deaf charities call for greater awareness of BSL as a recognised UK language
• BSL is the primary language of 87,000 of UK’s Deaf population

The Mortgage Works is tomorrow (Tuesday 5 March) reducing its Interest cover ratios (ICR):

• For higher rate taxpayers, the ICR reduces from 165% to 160%
• For Limited Company and lower rate taxpayers, the ICR reduces from 130% to 125%

• Asks include a market-wide review, reintroduction of Help to Buy ISA, stamp duty reform and an increase in higher loan to income lending

• The Mortgage Works calls on Government to introduce four measures to build a stronger private rental sector

• Windsor’s last banking branch, Nationwide, supports community by funding a community-driven initiative up to £10,000
• It will add £200 into a community fund for every new current and savings account opened by local people
• Residents to decide how the fund is spent in the town by voting on three options put forward locally
• Launched by Windsor pop icon and fellow ‘one and only’, Chesney Hawkes, at live performance in branch

• Households aim to make money go further by shopping at discount stores, such as B&M, Poundland & Temu
• Nationwide’s Spending Report shows Brits spent £7.5bn in January – three per cent increase on last year
• Renters face biggest hike as rent payments rise 28% year on year, while mortgage repayments up by 11%
• Despite rising essential costs, spend up on non-essentials, from subscriptions to holidays and health & beauty
• Nationwide, which operates a cost-of-living helpline (0800 030 4066) urges anyone struggling or worried to contact their financial service provider to help them get back on track