News

• Maximum LTV of 85% for house purchase, remortgages and lending to first-time buyers
• Society maintains lending up to 95% LTV for existing mortgage members
• Two and five-year fixed rates reduced by up to 0.1% for those with 40 per cent deposit

• A fifth go two months or more without coins or notes while half say they’ll use cash less in future
• Nationwide members made 78.5 million contactless payments between 23 March and 31 May
• Lockdown forces 27% to use mobile payments and 25% online or mobile banking for first time
• 44% of Brits worried about using cash with nearly two thirds decreasing usage since lockdown
• One in five admit to ‘money laundering’ as they clean their cash in the sink or washing machine

The Mortgage Works (TMW) is tomorrow, Wednesday 3 June, launching a new one-year fixed rate Buy to Let product aimed at landlords who are looking to switch to a new product at the end of their current TMW deal.

From Thursday 28 May, Nationwide Building Society is reducing rates on selected two, three, five and ten-year fixed rate switcher mortgage products, as well as its two-year tracker mortgages, by up to 0.25 per cent. The Society will also be reducing rates on its range with a £1,499 fee and its Later Life mortgage products (Retirement Interest Only and Retirement Capital and Interest) by up to 0.40 per cent.

• Those in financial difficulty due to Covid-19 to benefit from new Home Support Package
• No Nationwide mortgage holder impacted by Covid-19 will lose home in next 12 months
• Partial or full mortgage payment breaks for people still impacted as a result of outbreak
• These additional support options to become available once current arrangements expire

In response to continuing changes within the savings market, Nationwide Building Society is today launching new issues of its on-sale Triple Access Online savings accounts as well as its one and two-year fixed rate products. The Society is also withdrawing its three-year fixed rate products from sale.

• ‘Kinda’ tool created by Society to enable staff to receive a helping hand during lockdown
• New tool rolled out for Mental Health Awareness Week 2020 as part of focus on wellbeing
• Society’s 18,000 employees will also have free access to mental health platform Unmind

Nationwide Building Society is today launching new issues of its on-sale Triple Access Online savings accounts in response to the changing market.

• Nationwide trains virtual assistant Arti to handle common Covid-19 mortgage holiday queries
• Enhanced abilities mean Arti can support frontline colleagues during unprecedented times
• New service went live at the end of March and has handled thousands of queries to date

From tomorrow (7 May 2020), The Mortgage Works (TMW), the specialist buy to let arm of Nationwide Building Society is making changes to its buy to let mortgage range.

From Wednesday 6 May, Nationwide will reduce selected fixed rates by up to 0.35 per cent and is launching a new two-year tracker at 60% LTV. Selected two-year tracker rates will also be amended.

• Nationwide Building Society reveals lockdown spending habits via consumer poll and own data
• Nearly two thirds of Brits have changed their spending habits over the course of the lockdown
• Despite overall spending dipping in lockdown, poll shows 4 in 10 have more disposable income
• Nationwide data shows online spend has risen by 38% in the last 30 days compared to last year
• 1 in 4 impulse buying due to browsing more online, while 15% browse for an hour or more a day
• But Brits keen to give back as more than a third have donated money to charity during lockdown