News

• Dramatic shift in number of people renting aged between 55-64 over past decade
• Private renting in England plateaus following surge in growth since the millennium
• Proportion of landlords owning 5+ properties more than tripled between 2010 and 2021
• Report published as new government pledges to address housing crisis

Effective from tomorrow, Wednesday 10 July, The Mortgage Works (TMW) is reducing its rates by up to 0.25 percentage points on new business Limited Company five-year buy to let products, with rates starting from 4.84%.

Effective from tomorrow, Tuesday 9 July, Nationwide Building Society will be reducing selected rates by up to 0.30 percentage points, with rates now starting from 4.18%. The new rates include:

On Wednesday 3 July, The Mortgage Works (TMW) will reduce its rates by up to 0.30 percentage points across selected buy to let products for new and existing customers, with rates starting from 3.69%.

• Half (44%) of holidaymakers risk travelling minus cover, with one in eight (13%) admitting to never getting any
• This compares with just 2% of motorists risking driving without any insurance, according to industry data
• Despite travel insurance being optional, people can be left significantly out of pocket without adequate cover
• Only 27% secure travel insurance when booking their holiday while 17% never read the policy documents

• Nationwide – one of the UK’s biggest banking providers - looks at customer spending during UEFA Euro 2024 tournament
• Current account and credit card spend in Germany jumps 140% as England and Scotland fans cheer on their teams
• Game of two halves as UK supermarket spend up 9% and pub spend down 1% as many opt to watch the game at home
• Nationwide FlexPlus current account and Member Credit Card charge no fees for overseas purchases or withdrawals

Nationwide has today launched Fairer Futures – a three-year programme to tackle some of the biggest issues affecting society and support people who have been dealt an unfair hand.

• The Mortgage Works provides broker support for day-to-day interactions with portfolio landlords 
• Available for all brokers to use regardless of which lender the landlord’s mortgages are with 

• Over 1 in 3 young people affected by fake ticket scams or know someone who has been conned
• Taylor Swift and Euros have accounted for nearly 4 in 10 fake ticket purchases
• Consumers lose nearly £400 (avg loss £394) according to Nationwide data
• Around a third of event ticket scams originate on social media
• Nationwide provides tips for fans while its Scam Checker Service offers protection on purchases

• Nationwide’s Spending Report shows rise in essential costs (+1%) and non-essential costs (+2%) in April
• Spend on repaying debt rose 25% while the number of transactions for debt repayment jumped 14%
• Sharp rise in housing costs partially offset by falls in spending on utilities and supermarket shopping
• Spending on catalogues increase 12% as Brits look to spread the cost of purchases

• 59% of parents place personal finance above maths and digital skills – second only to literacy
• Despite 96% saying personal finance education is important, 84% say their child hasn’t received any
• Comes as Nationwide reaches 100,000 schoolchildren with its Money Lessons programme

• Launch of Member Exclusive Bond for all existing members, with competitive rate of 5.5 per cent
• New Fairer Share Payment sees £385m shared among eligible current account members with a savings account or a mortgage
• £200 member exclusive online current account switching incentive