Product news

Following the 0.25% increase in the Bank of England Bank Rate on Thursday 3 August, mortgage members who are on Nationwide’s Base Mortgage Rate (BMR)¹ product will see a rise of 0.25% to 6.75% from 1 September 2023.

On Saturday 05 August, The Mortgage Works (TMW) is reducing selected rates across its buy to let range by up to 0.95 percent.

In response to today’s Bank Rate rise, Nationwide Building Society is announcing increases of up to 0.75 per cent across a range of on and off-sale variable rate savings accounts.

• £100 cashback available for limited time to students applying for FlexStudent from 1 August 2023
• FlexStudent continues to offer students interest-free, fee-free overdrafts up to £3,000

On Saturday 29 July, The Mortgage Works (TMW) is reducing selected buy-to-let rates across its switcher range by up to 0.85 percentage points for existing customers.

Nationwide Building Society is reducing rates on its switcher mortgage products by up to 0.35 percentage points. Switcher products are available to Nationwide mortgage members coming to the end of their existing deal and looking for a new one.

• Nationwide Spending Report shows overall spending up 8% year on year and transactions up 10%
• Annual growth the same in June across both essential and non-essential spending
• Consumer poll: 57% worried about personal finances/ability to cover essentials - lowest level this year
• Average household has around £289 spare money each month to spend on themselves
• 42% say the amount of spare money they have each month has decreased since last year

Nationwide Building Society is today (19 July 2023) launching new Fixed Rate Online Bonds, Fixed Rate Branch Bonds and Fixed Rate ISAs.

Nationwide Building Society is today announcing increases on all its on and off-sale variable rate savings accounts by up to 0.80 per cent – with most increases effective from 14 July 2023¹.

Nationwide Building Society is today announcing increases on some of its most popular on and off-sale variable rate savings accounts as well as increasing the revert to rate on the FlexDirect current account. The changes are effective from 1 July 2023.

• Nationwide Spending Report shows overall spending up 5% year on year and transactions up 7%
• Essential and non-essential spending gap narrows as people spend more on themselves
• Consumer poll highlights fall in those worried about personal finances and ability to cover essentials
• Brits determined to have a summer of fun as many see holiday and days out as essential spending
• Average holiday spend of £1,491, but Brits staying in UK or opting for short haul to keep costs down

From today (9 June 2023), Nationwide Building Society will return to lending at 95 per cent loan to value (LTV) on non-new build flats.