News

• Products available for remortgage applications via brokers, up to maximum 60% LTV

• Majority of savings accounts will see rates reduced by less than 0.65% Bank Rate cut
• Popular Triple Access Online ISA and Saver accounts remain on-sale, offering 1.00%
• Start to Save remains unchanged, encouraging those with no savings to start habit
• FlexDirect interest rate reduced to 2% as a direct result of ultra-low interest rates
• Existing FlexDirect holders within 12-month initial period still receive 5% introductory rate
• Recommend a Friend incentive paused as Society focuses efforts on coronavirus support

In light of the uncertainty caused by COVID-19 for its members, the Nationwide Building Society Board Remuneration Committee has agreed to a request by its Chief Executive to reduce his base salary and pension combined by 20 per cent.

Nationwide Building Society (‘Nationwide’) has today announced that it is stopping plans to enter the UK business banking market as it prioritises supporting its members through the immediate and longer-term financial implications of COVID-19.

• Mortgages withdrawn from sale online and via brokers as Society focuses on supporting existing members at difficult time
• Nationwide and TMW offering enhanced measures to support existing mortgage applications
• Measures include mortgage offer extensions and alternative valuation methods

• Measures aimed at ensuring progress on existing Nationwide and TMW applications
• Covers existing new home purchase, remortgage or additional borrowing applications
• Nationwide and TMW to allow three month mortgage offer extensions on case-by-case basis
• Customers should only request an extension within 30 days of offer expiring
• Valuations to continue using automated valuation model and remote desktop where possible

• Comprehensive online resource provides payment breaks during coronavirus outbreak
• Credit cards, loans, overdrafts as well as residential and Buy-to-Let mortgages included
• Nationwide emphasises need to support people in the simplest way at an unprecedented time
• Society urges people to go online in order to free up phone lines for elderly and vulnerable

• Society passes on full 0.15% Bank Rate decrease to existing variable rate borrowers
• Nationwide re-introduces two-year tracker mortgages to range

• Core hours for most branches now 10am-2pm Monday to Friday and 9am-12pm on Saturdays
• Nationwide keeps the majority of its 650-strong branch network open with around 50 closed
• Society implements controls around numbers in branches so two-metre distance is maintained
• Early opening hours trial ends following govt advice urging people to stay home unless essential

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

U K Insurance Limited, which underwrites Nationwide Building Society’s travel insurance, has confirmed that all trips booked on or from 12am, Wednesday 18 March, will not be covered for cancellation costs or any element of the trip where the cause of the claim is related to coronavirus.

• Our branches open hour early for older people and those with underlying conditions
• We're testing new operating hours in more than 100 branches across UK
• Branches will open to wider membership from usual opening times
• We encourage you to sign up to online and mobile banking as more stay home