News

• Nationwide Spending Report shows essential spending rises 10% year-on-year vs 6% for non-essentials
• Overall spend up 6% year-on-year as cost of living rises – matching September’s growth
• Despite annual increase, utilities and bills down 4% vs September as government discount kicked in
• Monthly report provides overview of c230 million debit card, credit card and Direct Debit transactions

Nationwide Building Society is today announcing further rate increases on all of its off-sale variable rate savings accounts. The changes, effective from 1 December 2022, will see the Society increasing rates by up to 1.50 per cent.

On Friday 11 November, The Mortgage Works (TMW) will reduce selected fixed buy to let and limited company buy to let rates by up to 0.95% and will introduce new two year tracker products.

From tomorrow, Friday 11 November, Nationwide Building Society will reduce selected two, three, five and ten-year fixed and two-year tracker products by up to 0.70 per cent across all LTVs.

Following the 0.75% increase in the Bank of England Bank Rate on Thursday 3 November, mortgage members who are on Nationwide’s Base Mortgage Rate (BMR)1 and Standard Mortgage Rate (SMR)2 products will see a rise of 0.75%. 

On Thursday 3 November, The Mortgage Works (TMW) will reintroduce its range of tracker buy to let mortgages.

Nationwide Building Society will reduce its fixed rates for existing members switching to a new deal by up to 1.30% from 1 November.

On Wednesday 26 October, The Mortgage Works (TMW) will be offering a more tailored approach to stress rates based on the product term and type.

• One in three young people have never written or received a letter but 80% would be excited to get one
• Four in ten say that getting a letter beats a text or social media message – with 39% having received ‘nasty’ posts
• Nationwide and Diana Award encourage letter writing to build friendships as part of anti-bullying efforts

• Nationwide Spending Report again sees spending fall across both essential and non-essential items
• Annual growth of non-essential spending in September marks a low point for 2022
• Spending on utilities and bills grew by nearly a quarter (23%) compared to September 2021
• Spending on subscription services falls for fourth consecutive month but childcare costs rise versus 2019
• Monthly report provides overview of c217 million debit card, credit card and Direct Debit transactions

Nationwide Building Society is today announcing further rate increases on all of its off-sale variable rate savings accounts. The changes, effective from 1 November 2022, will see the Society increasing rates by up to 1.20 per cent.