News

Following the 0.25% increase in the Bank of England Bank Rate on Thursday 23 March, mortgage members who are on Nationwide’s Base Mortgage Rate (BMR)1 and Standard Mortgage Rate (SMR)2 products will see a rise of 0.25%.

Nationwide Building Society is today announcing increases across a range of variable rate savings accounts. The changes, effective from 1 April 2023, will see the Society increasing rates by up to 0.50 per cent. 

• Nationwide reopens branch in Sheffield with modern refurbishment  
• Redesigned branch offers more space and community areas for members  
• Provides easy access to Society’s high-definition video link to specialist advisors  

The Mortgage Works (TMW) is tomorrow (30 March 2023) launching a new 55% Loan-to-value (LTV) buy-to-let range for new and existing customers, covering house purchases and remortgages.

• Nationwide reopens branch in Cabot Circus with modern refurbishment  
• Redesigned branch offers more space and community areas for members  
• Provides easy access to Society’s high-definition video link to specialist advisors  

• Nationwide’s Spending Report: essential spending up 12% year-on-year and non-essential spending up 9%
• Number of transactions made this February up 10% compared to the year before
• Separate poll reveals 38% used credit cards in last 6 months to cover essential items to make it to next payday
• 63% worried about current state of finances and ability to cover essentials – down 7% on last month
• Subscription spending continues to decline with 23% having reduced or cancelled TV subscriptions

Nationwide Building Society is reducing rates across its fixed and tracker mortgage range by up to 0.45 percentage points, effective from tomorrow, Friday 24 March.

On Friday 17 March, Nationwide Building Society will be launching new one and two-year Fixed Rate ISAs.

• The building society confirms its move to flexible workspace specialists Wizu Workspace
• The new office opened on the 6^th February
• With new focus rooms, wellbeing space & collaboration space

• Close to half put off essential vehicle repairs to save money during cost-of-living crisis
• More than one in three say they are worried their car will breakdown due to not being maintained
• 59% have needed breakdown support, with ‘failure to start’ the top reason for callouts

Nationwide Building Society is amending selected fixed and tracker mortgage rates. The new rates will be effective from tomorrow, Friday 3 March.

The Mortgage Works (TMW) will be reducing rates on selected five-year rate switcher mortgage products by up to 0.10 percentage points from Saturday, 25 February 2023.