News

• New streamlined process developed in conjunction with Moneyhub using open banking payments technology
• Around 8 percent of accounts are closed each month as members forget to meet the funding requirements
• New process initially rolled out for Fixed Rate Online Bonds before expanding to other savings accounts in future.

• Just 22% of landlords support proposal to end Section 21 ‘no fault’ evictions, research shows
• 62% supportive of National Landlords Register but 53% say it won’t deter rogue landlords
• Introduction of Decent Homes Standard garners most support amongst landlords

Nationwide Building Society is today announcing rate increases on all of its variable rate savings accounts, including increasing the rate on the Society’s competitive Triple Access Online Saver and Triple Access Online ISA for new and existing members.

• Nationwide Spending Report reveals rising costs across both essential and non-essential spending in July
• Essential spending up 6% in a month (12% year-on-year); non-essential jumps by 5% (14% year-on-year)
• Cost cutting reductions recorded in June reversed as all but two non-essential categories see a rise in July
• Childcare, fuel, utilities & bills, travel on public transport see biggest annual growth in essential spending
• Despite monthly spike, year-on-year figures show reductions across subscriptions, gardening, DIY and dating

• Two thirds of university students behind or struggling to pay their rent or accommodation costs
• Nearly three quarters have borrowed from family to pay for essentials such as food and rent in last year
• Nationwide giving £10 to housing charity Shelter for every new FlexStudent current account opened

Nationwide Building Society is today increasing the rate on its one and two year Fixed Rate Bonds and launching a new five year Fixed Rate Online Bond.

• More than half of people have had a knock on their door offering to do work on their homes
• 18% received an email invoice for work but 35% don’t know fraudsters can intercept messages
• One in five have had email hacked, while nearly a quarter (24%) have been victim of email hacks
• 21% have authorised a payment that has been flagged as suspicious by bank or building society
• Nationwide’s Scam Checker Service allows members to check a payment before making it

• New maximum loans up to £5m available from 3 August across standard five-year product range
• Maximum loan-to-income increased to 5.5x for high earners on house purchase applications

• Households cutting back as ability to shop around for cheaper fuel is limited, Nationwide poll shows
• Despite reducing spending, many are having to use savings and credit cards to pay for fuel
• More than eight in ten people are more worried about their finances than they were a year ago
• Nationwide launches dedicated cost-of-living hotline to help members struggling financially

• £100 cashback available for limited time to students opening FlexStudent from 1 August
• £10 to be given to housing charity Shelter for every student account opened from today
• Account continues to offer students interest-free, fee-free overdrafts of up to £3,000
• Students will continue to move to Society’s FlexGraduate account after finishing university