News

• Society increases rates on its instant and limited access savings accounts
• Base Mortgage Rate (BMR) and Standard Mortgage Rate (SMR) increasing in line with Bank Rate

From today, Tuesday 26 April, The Mortgage Works (TMW) is increasing the maximum loan-to-value (LTV) on new build flats from 65% to 75%.

• Applications open for Community Grants of up to £50,000 to tackle housing and cost of living issues
• Nationwide research shows 85% of people are concerned about the rising cost of living
• £22 million funding to have been made available to charities and organisations by 2023

• Nationwide’s Spending Report tracked c217m credit, debit card & direct debit transactions made in March
• Overall spending up 16% vs February; non-essential spending (c£2.8bn) in March is highest so far in 2022
• Spending on charities was up 45% vs March 2021, with many supporting the humanitarian effort in Ukraine
• With rising petrol and diesel prices, spending on fuel and electric charging up 56% vs 12 months ago
• Credit card transactions up 29% versus March 2021 as more turn to credit to pay for goods and services
• Nationwide encourages people struggling financially to contact their bank or building society for support

• 42% say cost-of-living crisis has led to them monitoring spend more than ever before, poll shows
• Households attempt to shave costs as lights go out, heating goes off and people ‘make do and mend’
• 77% want to be more self-sufficient but 17% currently face a bleak decision to either ‘eat or heat’
• 29% can’t afford a full tank if fuel prices exceed £1.80 a litre – as diesel continues to hover above £1.70
• Nationwide, part of Green Homes Action Group, urges government to deliver a long-term solution to better protect households from volatile energy prices

• Society increases 1 Year Triple Access Online ISA to a highly competitive 0.80% AER/Tax-free
• New rate applies to all members in the current issue
• The 1 Year Triple Access Online Saver rate will also increase on the same day
• Nationwide is also increasing rates on its fixed rate bonds and ISAs

• £4.7m awarded to 94 UK charities for Nationwide’s 2022 Community Grants programme
• Grants ranging from £10,000 to £50,000, decided by Nationwide members and employees

Nationwide Building Society’s Bromley Branch is providing a helping hand to its members by offering support and advice on how to use its Mobile Banking App.

• Chris is founder of igloo Regeneration – the UK’s leading responsible real estate business
• Acted as one of the UK’s Built Environment Climate Ambassadors for COP26 summit in Glasgow
• He will advise the Society on sustainability, climate change and its green homes ambition
• igloo currently works with the building society on its EPC-A rated development at Oakfield

• Nationwide’s latest Spending Report tracked c190m transactions made by members in February
• Overall spending down 9% vs January: Non-essential spending down 4% and essential spend down 12%
• 15% increase in spending in February on utilities and other bills versus 2021 as cost of living rises
• But spending on holidays and getaways flies in face of pressure as nation prepares to take a break in 2022
• Travel spending also up 12% from January as people return to office after WFH guidance was lifted