News

• Doubling of loan size reflects impact of inflation and external pressures on rising costs impacting consumers 
• Construction industry figures point to a further 15 per cent rise in costs over next 5 years, from materials to labour 
• Nationwide research reveals 44% of people plan to make home improvements over the Bank Holiday weekend 
• More than one in three customers taking out a Nationwide personal loan over £20,000 do so for home improvements  

• All age groups concerned by rate of branch closures, new Nationwide research reveals
• Half (50%) of 16-24s frustrated to find branches closed when they needed them
• Further proof branches are needed - seven in ten consumers value branches (70%)
• Nationwide recently extended its Branch Promise until at least the start of 2028

From today The Mortgage Works (TMW) will be changing its mortgage criteria for incorporated landlords.  

It will accept Limited Company purchase applications to use as a buy to let where the company is purchasing a property that is currently owned and lived in by one of its directors. 

• Nationwide’s Spending Report shows essential costs fell 4% in March despite overall spending remaining flat
• But increase offset by 4% rise in non-essential spending, from gardening and eating out to holidays
• Warmer weather, combined with stabilising costs, likely contributed to respective rise and fall in spend
• Despite some optimism, costs still higher across essential areas such as supermarkets, rent and mortgages

• Nationwide poll reveals 84% agree cost-of-living has impacted purchase of first property 
• Deposit and ability to afford mortgage payments act as major hurdles, with more than half willing to relocate to afford a home 
• Nationwide offers a range of options and support to help people into their first home 
• Britain’s biggest building society calls on government to boost homeownership as it prepares to publish Housing White Paper alongside Building Societies Association 

The Mortgage Works (TMW) will be reducing rates on selected buy-to-let and limited company products by up to 0.40 percentage points. The new rates will be effective from Tuesday 26 March.

• Deal to deliver greater value to Nationwide members and access to wider range of services over time.
• Branch Promise extended by two years.

Nationwide Building Society is today (19 March 2024) launching new issues of its Fixed Rate ISAs.

• Website translation service comes as Sign Language Week begins in the UK
• Enhances support Nationwide offers Deaf customers in branch and contact centres
• Just 6% of financial services firms¹ offer websites in British Sign Language (BSL)
• Deaf charities call for greater awareness of BSL as a recognised UK language
• BSL is the primary language of 87,000 of UK’s Deaf population