News

• Nationwide customer data shows 46% drop in holiday spend compared to last year with research showing 44% have abandoned travel plans due to impact of Covid-19
• 32% will enjoy UK staycations, aiming to spend average of £480 boosting local economies
• A fifth use money saved during lockdown to treat themselves to a well-deserved break
• Analysis of Nationwide data shows spike in holiday transactions since lockdown eased

• Huge mortgage demand, processing a third more per day compared to pre-Covid
• Helping 1 in 4 first time buyers as only mainstream lender offering 90% LTV loans with no restriction on volumes
• Society temporarily limits lending to new self-employed borrowers to max 75% LTV
• Reassurance that fully gifted deposits permitted on loans up to 85% LTV

• Quarterly poll of Nationwide members reveals 14 percent drop in financial security
• Optimism about future job prospects also falls by 11 percent since crisis began
• Nationwide offers grants of £10,000-£50,000 to support local UK housing projects
• ‘I stopped eating to pay my rent’: housing support directed to those most in need

The results of the voting at Nationwide Building Society's Annual General Meeting (AGM) held today, Thursday 16 July 2020, at Nationwide House, Pipers Way, Swindon, SN38 1NW are detailed below.

• 47,318 accounts open by end of April
• 17,901 of them saved between £50 and £100 each month between April and June
• Total prize fund £45,800 with one in 39 chance of winning
• As of 30 June, 83,806 Start to Save accounts opened – all potentially eligible for October prize draw – with nearly £16m saved in total
• 52% of accounts opened by 18-39-year-olds vs 28% for all types of savings accounts

• Nationwide Savings Index reveals evolution of saving habits under lockdown
• Savings Index includes poll of more than 10,000 people across Great Britain
• 37% have saved more during Covid-19 period, rising to 45% those aged 18-34
• Half of younger savers think their savings habits will change post Covid-19
• Nationwide’s own data shows people not dipping into savings during lockdown
• Average savings buffer people think they need for future pandemic is £12,212
• As restrictions lift, Nationwide is encouraging people to continue saving regularly

• Two, three and five-year fixed rate and two-year tracker products on offer
• Rates competitively priced from 2.49% with no set limit on numbers available
• Fee and non-fee options available to give would-be homeowners greater choice

Nationwide Building Society is today announcing that it will offer members six-months free subscription to Switchd (This link will open in a new window), a company that automatically switches people’s energy supplier to ensure they are always on the best deal.

• Nationwide increases support for first time buyers by raising lending limit to 90% Loan-to-Value (LTV) for many properties and would-be owners
• Will help more people benefit from the stamp duty freeze recently announced by government on properties up to £500,000
• Mortgages of up to 90% LTV available via Nationwide and through brokers from Monday 20 July

• Nationwide saw a 61 per cent increase in traffic to its Mortgage Affordability Tool
• Almost 50 per cent growth in use of its Quick Quote Mortgage Calculator
• Traffic to Nationwide’s Mortgage tools up by almost 70 per cent while Chancellor spoke
• Home movers in England could save on average £2,908 from stamp duty change

Nationwide Building Society is today launching new issues of its Fixed Rate Bonds, e-Bonds and Fixed Rate ISAs.

• Partial or full mortgage breaks available from today for those still impacted by Covid-19
• Payment breaks come as part of Nationwide's Home Support Package announced in May
• Members coming to the end of an initial payment break will be contacted by the Society
• Sits alongside Society's move to not repossess any home hit by Covid-19 until May 2021