News

• 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

Nationwide Building Society today announces its latest venturing fund investment in Bunk, a digital lettings agency. 

• Only a third of over 55 year olds plan to move to a smaller house, shows Nationwide poll 
• More than half see their current property as their forever home  
• Four in ten haven’t thought or don’t know about how they will cope with their home in retirement
• But more than one in five say they will rely on family to help them with the upkeep of their home

• Follows launch of suite of Later Life products and advice to its mortgage members
• Society first on high street to offer with package for older mortgage borrowers
• Designed to help growing numbers of older people live their retirement of choice

From Wednesday 24th July, Nationwide Building Society is reducing selected 2, 3 and 5 year fixed rate mortgage products by up to 0.10%.

• Society first on high street to offer comprehensive suite of Later Life products and advice
• Designed in response to demand from members to live their retirement of choice
• Launched first to Nationwide mortgage members and rolled out to all in summer

• Poll shows pensioners need average of £885 a month – £380 more than the £505 state pension
• But one in three people in middle age set to retire on state pension alone – leaving £68k shortfall
• Many are worried about being able to afford retirement and living the lifestyle they want to live
• Less than one in ten have clear retirement goals and over half don’t know their pension value

• Rent on Bob Cratchit’s London home up 119,300% from 1843-2018, 10 times higher than inflation
• Matched growth would see homes cost around £548,076 per week in another 175 years
• Renting in London equivalent to £46 per week in 1840s vs £459 per year in today’s market
• Nine in ten Brits rented properties back in 1840s - far higher than the four in ten renting today

• More than a third of private tenants have lost some or all of a previous tenancy deposit
• Average time for return of deposit is almost two months – but for more than one in five it takes 3 months +
• Two in five lose deposit cash to wear and tear or cleaning costs

Nationwide Building Society has announced adjustments to savings and mortgage rates in response to the Bank of England Bank Rate increase of 0.25%. Rates affected will change as of 31 August 2018 for savings accounts, and 1 September 2018 for mortgages.

• Second time buyers find it more difficult to move home than a decade ago
• Moving costs, size of deposit and affordable housing among most significant barriers
• Sacrifices to move include delaying starting a family or freezing wedding plans
• More than half are aiming for a ‘detached home’, and a fifth refuse to make any compromises

• Nationwide comments on DCLG’s steps to address onerous leaseholds and ground rents
• Society became the first major lender to address lending in this area back in May