News

• Introductory rate available for new applications on balances up to £1,500 for first 12 months
• Members switching their current account receive £125 while new customers receive £100
• Switchers could benefit from up to £200 within first year through interest and switching incentive
• Interest free overdraft for first 12 months helping members reduce existing debt and outgoings

Mortgage brokers can now get a decision in principle (DIP) even faster with Nationwide as the Society enhances its API technology in partnership with mortgage technology firm Twenty7Tec.

• Member Online Bond rewards members with 2.50% - the high street’s top rate for 3-year fixed rate bonds
• Start to Save (Issue 2) pays 2.50% - incentivising people to build steady savings during challenging times
• Start to Save account also offers new six-monthly prize draw offering £250 to those who save regularly
• Nationwide increasing rates by up to 0.50% on all off-sale variable rate accounts, effective 1 July

• Pledge to protect branches in cities and towns extended until 2024 to support members
• Society encourages members who are facing financial hardship to talk to them

• 74% of landlords feel sense of duty to support tenants during times of financial difficulty
• More than four in ten landlords have given financial support to tenants over past 12 months
• Landlords could reduce rents by up to 7.6% before their finances become detrimentally impacted
• But more than half plan to hike rent over next 12 months as costs continue to rise

• Month-on-month growth in essential and non-essential spending broadly flat in April
• Signs of creeping costs as transactions decrease but spend levels are maintained
• Households cutting back on childcare, subscriptions, and TV, phone-and-broadband
• But clothing, gardening, eating and drinking out see small jump during the month
• Utility bills up 40% month-on-month - reflecting rising costs of energy and Council Tax

• ReachOut focusses on welfare to help empower people to take more control of their situation
• Service creates a safe place where money is never requested nor debts asked to be repaid
• Follows work done by Society to make debt collection practices fairer across sectors
• Service adds to a number of ways Nationwide is helping address financial hardship

• New issue of 1 Year Triple Access Online ISA with increased rate launching Friday 13 May
• Society to increase rate on Triple Access Online Saver with new issue launched the same day
• Nationwide is also increasing rates on one, three and five year fixed rate products

• Maximum loan-to-income increasing from 4.49x to 6.5x on like-for-like remortgages
• Change applies to remortgage applications started from today, Thursday 12 May
• Available to those looking to remortgage without taking any additional borrowing
• Society’s change makes it easier for borrowers to move lender to secure better mortgage deal

On Thursday 12 May, The Mortgage Works (TMW) is reducing selected limited company buy to let rates by up to 0.55%.