News

• Mortgages withdrawn from sale online and via brokers as Society focuses on supporting existing members at difficult time
• Nationwide and TMW offering enhanced measures to support existing mortgage applications
• Measures include mortgage offer extensions and alternative valuation methods

• Measures aimed at ensuring progress on existing Nationwide and TMW applications
• Covers existing new home purchase, remortgage or additional borrowing applications
• Nationwide and TMW to allow three month mortgage offer extensions on case-by-case basis
• Customers should only request an extension within 30 days of offer expiring
• Valuations to continue using automated valuation model and remote desktop where possible

• Comprehensive online resource provides payment breaks during coronavirus outbreak
• Credit cards, loans, overdrafts as well as residential and Buy-to-Let mortgages included
• Nationwide emphasises need to support people in the simplest way at an unprecedented time
• Society urges people to go online in order to free up phone lines for elderly and vulnerable

• Society passes on full 0.15% Bank Rate decrease to existing variable rate borrowers
• Nationwide re-introduces two-year tracker mortgages to range

• Society passes on full 0.50% Bank Rate decrease to mortgage rates following change
• Nationwide currently considering impact of Bank Rate change on its variable savings rates
• Move follows a range of measures to support members financially impacted by coronavirus

Nationwide Building Society will be accepting mortgage applications from those looking to participate in the Scottish Government’s first-time buyer equity share scheme, the First Home Fund, which launches today.

• Action on Empty Homes figures show there are 226,000 vacant properties in the UK
• Nationwide Building Society asks Government to create £185m Empty Homes Fund
• Incentives should include Council Tax holidays for first-time buyers and tax perks for local authorities

Nationwide Building Society is, from Wednesday 20 November, reducing rates on selected two, three and five-year fixed rate mortgages available up to 60% LTV by up to 0.15%, as well as reducing ten-year fixed rates by up to 1.10%.

• Action on Empty Homes and Nationwide Building Society call for targeted national investment to bring homes back into circulation to help reduce the housing crisis 
• Empty homes in England increase by 5% (11,000) – double the rise of previous year
• Now more than 200,000 empty homes across the country after second year-on-year rise

• Decision In Principle no longer leaves hard footprint on customer credit score
• Updates to broker system to provide greater range of information and reduce calls