News

• Romance scams with male victims rose 40% between 2022 and 2023, according to Nationwide’s customer data
• However, women are likely to lose more to love scams: average loss of £10,610 versus £8,181 for men in 2023
• 20% of romance scam cases reported by men in 2023 involved victims aged 20-30 years old
• Nationwide’s Scam Checker Service enables customers to check and protect a payment first

From today (9 February 2024), Nationwide is launching a new issue of its Flex Regular Saver paying a highly competitive 6.5% AER/gross p.a. for 12 months¹.

• New research highlights impact of cost-of-living crisis since 2021 as 69% of families more worried compared to last year
• Since 2021, average family energy bills have risen by 63%, fuel by 39%, food by 32%, rent by 26% and mortgages by 22%
• Percentage of families with no spare cash at the end of each month almost doubles between 2022 and 2023
• Britain’s biggest building society reminds worried or struggling customers to contact its dedicated cost-of-living helpline
• But one in five feel that financial pressures are starting to ease in 2024, and are hopeful things will start to improve

Nationwide and The Mortgage Works (TMW) are today launching a new service that enables brokers to highlight when a new or existing mortgage customer or landlord has additional support needs.

From Tuesday 30 January, The Mortgage Works will be reducing rates on selected switcher mortgage products by up to 0.20 percentage points, with rates starting from 3.84%.

Effective from tomorrow, Wednesday 24 January, Nationwide Building Society will be reducing selected rates by up to 0.81 percentage points and introducing a new range of fixed and tracker rate products with a £1,499 fee. These changes mean Nationwide’s rates start at 3.84% - its lowest level in eight months.

• Nearly 6 in 10 don’t know or aren’t sure how to check if a travel agent, tour operator or holiday booking are legit
• Nearly a third of people would rush into booking a break without checking if they spotted a great deal
• 14% use social media sites to book holidays and 9% have booked a holiday after an influencer has posted
• Nationwide’s Scam Checker Service protects people who are unsure about making a purchase by assessing it

On Saturday 20 January, The Mortgage Works (TMW) is reducing rates on products for new customers by up to 0.15 percentage points, with rates starting from 3.54%.

• Britain’s biggest building society joins Safe Spaces initiative.
• Poll shows impact of abuse, with 24% having experienced it[1] ; over 1 in 4 suffered financial abuse.
• Nationwide values face-to-face service and promises to keep all branches open until at least 2026.

On Wednesday 17 January, The Mortgage Works (TMW) is reducing rates on products for new and existing customers by up to 1.20 percentage points, with rates starting from 3.69%.

• 84% say this January is the toughest yet as the cost-of-living crisis enters third year, poll reveals 
• Week commencing 15th is set to be the most painful as UK await first pay packet  
• 46% more likely to seek financial support in 2024 as many expect to reach a ‘tipping point’ 
• 26% would rather receive advice in person than online, with 26% saying it makes them feel more reassured 
• Nationwide commits to face-to-face service: everywhere it has a branch, it will still be there until at least 2026. 

Nationwide Building Society is today (12 January 2024) launching new issues of its Fixed Rate Online Bonds, Fixed Rate Branch Bonds and Fixed Rate ISAs.