News

The Mortgage Works is cutting rates on selected buy-to-let products by up to 0.20 percentage points. The new rates will be effective from tomorrow, 18 November.

• Nationwide predicts more than 260m transactions across November leading up to Black Friday and Cyber Monday, as consumers expected to spend £123 on average
• 38% of consumers do not plan to buy anything in the sales as they curb spending
• Younger consumers aged 25-34 are expected to spend the most across Black Friday, around £255 per person
• Surprising items at the top of wish-lists include vinyl record players, F1 merchandise and Funko Pops and Wayfair reveals increased searches for airfryers and coffee machines

• Kitchen and bathroom renovations are most popular amongst Buy to Let investors who have made improvements in the last five years
• 18% made green improvements, such as adding solar panels or insulation
• But over 50% surveyed regretted renovating their rental properties
• Our analysis suggests adding an extra bathroom can boost BTL property value by 8%
• Increasing floor area to incorporate extra bedroom can add 12% to typical rent (around £125 per month), while a second bathroom attracts a 6% rental premium (c. £60 per month)

• Nationwide colleagues to offer immediate mental health support with new SMS support service
• Follows renewed commitment to Britain’s high streets - to keep every one of its 696 Nationwide and Virgin Money branches open until 2030
• Partnership comes during Men’s Mental Health Month – with ONS figures showing men account for three quarters of suicides

• Branch Promise extension protects all 696 Nationwide and Virgin Money branches 

• Nationwide branches remain popular, with 11% increase in customers using them over last year(1) 

• Over a third of current accounts and over a fifth of savings accounts opened in branch(2) 

• Last branches in town see increased current account openings and ATM usage 

On Thursday 06 November, The Mortgage Works (TMW) is reducing selected Buy to Let rates for new and existing customers by up to 0.30 percentage points, with rates starting from 2.64%.

Multi-platform partnership launches with 'Spent!' podcast, hosted by Matt Edmondson, alongside sponsorship of This is Money's TikTok channel

• Rate reductions of up to 0.25 percentage points for new and existing customers
• First-time buyers, home movers and those looking to remortgage and switch all benefit from these cuts
• Nationwide offering sub-4% rates to all borrower types
• Nationwide offering new and existing customers looking to move home market-leading rate of 3.64%

• Substantial enhancement of Interest Only offering, including increasing max LTV for part and part to 85%
• Expanded range of repayment plans accepted, including use of savings, investments and pension funds
• Interest Only borrowing now also available for first-time buyers

The Mortgage Works is making further enhancements today (Wednesday 29 October) to support landlords who want to grow their portfolios.

The Mortgage Works is today (Monday 27 October) making a number of enhancements to its application process as it continues to respond to broker feedback, particularly on limited company borrowing.

• Nationwide launches Digital Lessons programme supporting local communities
• Over 11.3m UK adults lack basic digital skills on using internet safely and effectively
• Lessons available to everyone – not just for Nationwide customers - across all branches
• Initiative follows Nationwide’s pledge to keep every branch open until early 2028