News

Following the 0.75% increase in the Bank of England Bank Rate on Thursday 3 November, mortgage members who are on Nationwide’s Base Mortgage Rate (BMR)1 and Standard Mortgage Rate (SMR)2 products will see a rise of 0.75%. 

On Thursday 3 November, The Mortgage Works (TMW) will reintroduce its range of tracker buy to let mortgages.

Nationwide Building Society will reduce its fixed rates for existing members switching to a new deal by up to 1.30% from 1 November.

On Wednesday 26 October, The Mortgage Works (TMW) will be offering a more tailored approach to stress rates based on the product term and type.

• One in three young people have never written or received a letter but 80% would be excited to get one
• Four in ten say that getting a letter beats a text or social media message – with 39% having received ‘nasty’ posts
• Nationwide and Diana Award encourage letter writing to build friendships as part of anti-bullying efforts

• Nationwide Spending Report again sees spending fall across both essential and non-essential items
• Annual growth of non-essential spending in September marks a low point for 2022
• Spending on utilities and bills grew by nearly a quarter (23%) compared to September 2021
• Spending on subscription services falls for fourth consecutive month but childcare costs rise versus 2019
• Monthly report provides overview of c217 million debit card, credit card and Direct Debit transactions

Nationwide Building Society is today announcing further rate increases on all of its off-sale variable rate savings accounts. The changes, effective from 1 November 2022, will see the Society increasing rates by up to 1.20 per cent.

• Poll shows 81% of households cut costs as energy price cap rises – from food to fashion
• Around a third haven’t been able to put money aside to cover increasing bills since April
• 20% of households would consider using credit cards to cover energy bills, 15% would take out a loan
• Nationwide starts offering financial health checks to struggling members across branch, phone and video

• Nationwide launching new one, two, three-year Fixed Rate Online Bonds paying highly competitive rates
• Rates also raised on latest issue of 1 Year Triple Access Online Saver and 1 Year Triple Access Online ISA

On Wednesday 5 October, The Mortgage Works (TMW) is launching a new range of two and five-year fixed buy to let mortgages and updating its stress rates.

• £200 paid to current account customers who switch using the Current Account Switch Service
• Rate on linked Flex Instant Saver, exclusively for current account members, doubled to 2.00% AER from Wednesday 5 October