News
09 May 2022
Nationwide stops 2,000 more online shopping frauds a month as new payment checks show a small delay is worth its weight
- Strong Customer Authentication stops 2,000 more transactions a month falling prey to fraud
- More than two thirds are happy for payments to take a little longer if they are better protected
- More worry about losing bank card than data theft, despite nearly all online fraud relying on leaks
- 42% say SCA makes them feel safer and 27% say it makes them more likely to shop online
04 May 2022
Home truths: Rising cost of living forces first-time buyers to put plans on ice for now
- 70% of hopeful homeowners delay purchases by average of nearly two years due to cost pressures
- 88% of prospective first-time buyers worried living costs are harming efforts to save deposits
- 48% reduce amount they save towards a deposit and 38% repurpose earmarked cash
- 69% willing to relocate to another part of the UK in order to get more for their money
- 65% say they need to buy with someone else to be able to afford a property
- Saving to move: 43% reduce socialising; 36% sell items and 12% shelve family plans
- Nationwide offers £500 cashback to first-time buyers who complete their mortgage with Society
22 Apr 2022
Non-essential spend jumps 16% as longer and freer days put spring in the step of consumers despite cost of living rise
- Nationwide’s Spending Report tracked c217m credit, debit card & direct debit transactions made in March
- Overall spending up 16% vs February; non-essential spending (c£2.8bn) in March is highest so far in 2022
- Spending on charities was up 45% vs March 2021, with many supporting the humanitarian effort in Ukraine
- With rising petrol and diesel prices, spending on fuel and electric charging up 56% vs 12 months ago
- Credit card transactions up 29% versus March 2021 as more turn to credit to pay for goods and services
- Nationwide encourages people struggling financially to contact their bank or building society for support
12 Apr 2022
More than six in ten households forced to make cutbacks for first time due to rising cost of living
- 42% say cost-of-living crisis has led to them monitoring spend more than ever before, poll shows
- Households attempt to shave costs as lights go out, heating goes off and people ‘make do and mend’
- 77% want to be more self-sufficient but 17% currently face a bleak decision to either ‘eat or heat’
- 29% can’t afford a full tank if fuel prices exceed £1.80 a litre – as diesel continues to hover above £1.70
- Nationwide, part of Green Homes Action Group, urges government to deliver a long-term solution to better protect households from volatile energy prices
21 Mar 2022
Belts begin to tighten as rising cost of living eats into non-essential spending
- Nationwide’s latest Spending Report tracked c190m transactions made by members in February
- Overall spending down 9% vs January: Non-essential spending down 4% and essential spend down 12%
- 15% increase in spending in February on utilities and other bills versus 2021 as cost of living rises
- But spending on holidays and getaways flies in face of pressure as nation prepares to take a break in 2022
- Travel spending also up 12% from January as people return to office after WFH guidance was lifted
11 Mar 2022
Paws for thought: Pet scams soar as crooks get their claws into those looking for a furry friend
- Purchase and advance fee scams involving pets rose 39 per cent between 2020 and 2021
- Average amount lost to reported scams involving pets around £1,400
- Separate poll suggests scams involving dogs are most prevalent
- 12% would use social media to find a pet while 32% would pay a deposit before meeting the animal
- New research comes as world’s biggest dog show Crufts currently takes place in Birmingham
18 Feb 2022
Consumer spending soars in January despite cost of living crisis as pandemic measures ease up
- Nationwide’s Spending Report analyses nearly 200m card and direct debit transactions in January
- Annual spending growth up 18%, despite Plan B restrictions, reflecting a country more open than last January
- Non-essential spend rockets by 43 per cent as people book holidays, flights and cruises for 2022
- Essential spend up 15 per cent on last year with spending on utilities and bills up nine percent year-on-year
- Payments via mobile phone continue to thrive – transactions up a staggering 179 per cent on January last year
14 Feb 2022
Love is Blind: Feelings of loneliness and isolation go hand in hand with romance scams
- Three in ten people who are lonely & socially isolated say it makes them ripe for romance scams
- Number of people saying they’ve no contact with friends and family trebles since March 2020
- Two thirds have felt suspicious over dating profiles but 12% would carry on flirting regardless
- Young people particularly vulnerable as more use dating apps and more have felt ‘on their own’
- Follows Nationwide’s launch of Scam Checker Service, available in branch or over the telephone
02 Nov 2021
Growth of consumer spending slows in third quarter of 2021 as people settle into rhythm
- Nationwide’s Spending Report analyses 620m payments, with transactions rising 10% between Q2 and Q3
- Modest three per cent increase in total spend; down on previous quarterly rise of 14% as spending stabilises
- Essentials: Data shows a 4 per cent rise in household spend - transport, fuel, debt and utilities spend up
- Non-essentials: 12 per cent rise in discretionary spend - leisure, holiday, food & drink and fashion up
- Research reveals rising cost of living impacts financial wellbeing – 74% worried; with credit usage rising
- Contactless card payments jump by 14 per cent and mobile payments up by more than a third (34%)
24 Sep 2021
Mule regret it: Cash-strapped students an easy target for fraudsters as one in three willing to take a gamble with money
- Money worries make third of students consider opportunity to make easy money, even if suspicious
- Nearly a third of students would allow someone else to use their account/transfer money for them
- Two thirds of students don’t know what a money mule is (vs UK average: 56%)
- Only half of students would tell the police if approached to be a money mule
26 Jul 2021
Four major action groups launched to find new ways to tackle the UK housing crisis
- 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
23 Jul 2021
Difficult journey to home ownership exacerbated by the impact of the pandemic
- 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
