News

• Expanded group consists of major UK retailers and consumer groups and will meet each quarter
• Panel will measure and assess impact of Brexit and Covid as nation hopes to recover and rebuild
• Nationwide focussing future efforts on four areas: Home, Work, Financial Wellbeing & Community
• Initial research from Ipsos MORI reveals changing societal needs across these four areas of life

On Friday (11 December 2020), Nationwide Building Society will launch a new issue of its one-year Triple Access Online Saver and introduce a new Two-Year Fixed Rate Bond and Fixed Rate ISA.

Nationwide Building Society is reducing rates by 0.15 per cent on its two-year fixed and tracker rate mortgage products at 85 per cent Loan-to-Value (LTV). These changes will be effective from Tuesday 8 December.

• Quarter of Brits chose getting a bargain over protecting themselves against scams, poll shows
• Four in ten would buy from a website or company they've never heard of in order to bag a deal
• Around three in ten have transferred money directly into seller's account despite risk of scams
• Close to a third don’t know how to identify a safe website and a fifth fail to research the sellers

• Lending at 90% LTV to include house purchases and existing mortgage members¹ moving home
• More capacity created as Society remains only major lender to offer 90% LTV mortgages
• Society to also remove restriction on gifted deposits to further support first-time buyers
• Mutual hopes these changes will help even more people move into first or next home

• Transactions expected to fall by up to 20% drop due to second national lockdown – the first year on year fall since Black Friday was introduced to the UK a decade ago
• Nationwide members still expected to collectively spend nearly £155,500 a minute
• Research reveals Brits will spend an average of £172 on Black Friday and £160 on Cyber Monday
• Many to regret impulse buys as a fifth confess to having returned purchases they made last year
• Live data: Consumer spending data to be available for media on Black Friday and Cyber Monday

• Nationwide backs branches with renewed promise to support UK’s communities
• Never been more important to support members through face-to-face service

• Sunflower Scheme enables members to self-identify where they may need additional support
• Launch of quiet hours in branches aimed at to helping those who may be sensitive to noise
• Visual guide of a branch available online to help members with autism prepare for their visit
• Comes after the Society was the first financial services provider to pilot the lanyard initiative

• Seven in ten undergraduates fear they won’t be able to get part-time work due to Covid
• More than half say they will be left with more debt if they can’t find work at university
• 38% expect to spend less this year as a result of the impact Covid will have on them
• New financial concern this year as 40% admit they don’t know how they’d pay Covid fines
• Nationwide FlexStudent rated one of the UK’s best student current accounts for 2020

With the impending lockdown, Nationwide has been seeing a peak in spending

• Start to Save prize fund nearly doubles as twice as many hit threshold for second prize draw
• 137,000 Start to Save accounts opened by end of September - up 90k since end of April
• Prize fund stood at £89,700 with one in 37 chance of winning, equating to 897 winners

• Ratcheting up of lockdown measures hasn’t seen another surge in supermarket spending
• Total spend across supermarkets (10 Aug – 4 Oct) up by 23% on same period in 2019
• Spend in supermarkets up 10% against earlier in 2020 but without weekly spikes
• London sees biggest increases in spend: six times more than Scotland and Northern Ireland
• Eat Out to Help Out data shows spend fell except on Fridays and Saturdays in 4 weeks after it ended