Product news

Nationwide Building Society is today (19 July 2024) launching new issues of its Fixed Rate Online Bonds and Fixed Rate Branch Bonds paying increased rates.

• 12 months of Just Eat vouchers worth £120 and £100 cash payment will be available from 16 July 2024  
• FlexStudent offers interest-free, fee-free overdrafts up to £3k and commission-free purchases and withdrawals abroad 

Effective from tomorrow, Tuesday 9 July, Nationwide Building Society will be reducing selected rates by up to 0.30 percentage points, with rates now starting from 4.18%. The new rates include:

• Half (44%) of holidaymakers risk travelling minus cover, with one in eight (13%) admitting to never getting any
• This compares with just 2% of motorists risking driving without any insurance, according to industry data
• Despite travel insurance being optional, people can be left significantly out of pocket without adequate cover
• Only 27% secure travel insurance when booking their holiday while 17% never read the policy documents

• Nationwide – one of the UK’s biggest banking providers - looks at customer spending during UEFA Euro 2024 tournament
• Current account and credit card spend in Germany jumps 140% as England and Scotland fans cheer on their teams
• Game of two halves as UK supermarket spend up 9% and pub spend down 1% as many opt to watch the game at home
• Nationwide FlexPlus current account and Member Credit Card charge no fees for overseas purchases or withdrawals

• The Mortgage Works provides broker support for day-to-day interactions with portfolio landlords 
• Available for all brokers to use regardless of which lender the landlord’s mortgages are with 

• Nationwide’s Spending Report shows rise in essential costs (+1%) and non-essential costs (+2%) in April
• Spend on repaying debt rose 25% while the number of transactions for debt repayment jumped 14%
• Sharp rise in housing costs partially offset by falls in spending on utilities and supermarket shopping
• Spending on catalogues increase 12% as Brits look to spread the cost of purchases

• Doubling of loan size reflects impact of inflation and external pressures on rising costs impacting consumers 
• Construction industry figures point to a further 15 per cent rise in costs over next 5 years, from materials to labour 
• Nationwide research reveals 44% of people plan to make home improvements over the Bank Holiday weekend 
• More than one in three customers taking out a Nationwide personal loan over £20,000 do so for home improvements  

From today The Mortgage Works (TMW) will be changing its mortgage criteria for incorporated landlords.  

It will accept Limited Company purchase applications to use as a buy to let where the company is purchasing a property that is currently owned and lived in by one of its directors. 

• Nationwide’s Spending Report shows essential costs fell 4% in March despite overall spending remaining flat
• But increase offset by 4% rise in non-essential spending, from gardening and eating out to holidays
• Warmer weather, combined with stabilising costs, likely contributed to respective rise and fall in spend
• Despite some optimism, costs still higher across essential areas such as supermarkets, rent and mortgages