News

• Nationwide increases support for first time buyers by raising lending limit to 90% Loan-to-Value (LTV) for many properties and would-be owners
• Will help more people benefit from the stamp duty freeze recently announced by government on properties up to £500,000
• Mortgages of up to 90% LTV available via Nationwide and through brokers from Monday 20 July

• Nationwide saw a 61 per cent increase in traffic to its Mortgage Affordability Tool
• Almost 50 per cent growth in use of its Quick Quote Mortgage Calculator
• Traffic to Nationwide’s Mortgage tools up by almost 70 per cent while Chancellor spoke
• Home movers in England could save on average £2,908 from stamp duty change

Nationwide Building Society is today launching new issues of its Fixed Rate Bonds, e-Bonds and Fixed Rate ISAs.

• Partial or full mortgage breaks available from today for those still impacted by Covid-19
• Payment breaks come as part of Nationwide's Home Support Package announced in May
• Members coming to the end of an initial payment break will be contacted by the Society
• Sits alongside Society's move to not repossess any home hit by Covid-19 until May 2021

• Maximum LTV of 85% for house purchase, remortgages and lending to first-time buyers
• Society maintains lending up to 95% LTV for existing mortgage members
• Two and five-year fixed rates reduced by up to 0.1% for those with 40 per cent deposit

• A fifth go two months or more without coins or notes while half say they’ll use cash less in future
• Nationwide members made 78.5 million contactless payments between 23 March and 31 May
• Lockdown forces 27% to use mobile payments and 25% online or mobile banking for first time
• 44% of Brits worried about using cash with nearly two thirds decreasing usage since lockdown
• One in five admit to ‘money laundering’ as they clean their cash in the sink or washing machine

The Mortgage Works (TMW) is tomorrow, Wednesday 3 June, launching a new one-year fixed rate Buy to Let product aimed at landlords who are looking to switch to a new product at the end of their current TMW deal.

From Thursday 28 May, Nationwide Building Society is reducing rates on selected two, three, five and ten-year fixed rate switcher mortgage products, as well as its two-year tracker mortgages, by up to 0.25 per cent. The Society will also be reducing rates on its range with a £1,499 fee and its Later Life mortgage products (Retirement Interest Only and Retirement Capital and Interest) by up to 0.40 per cent.

• Those in financial difficulty due to Covid-19 to benefit from new Home Support Package
• No Nationwide mortgage holder impacted by Covid-19 will lose home in next 12 months
• Partial or full mortgage payment breaks for people still impacted as a result of outbreak
• These additional support options to become available once current arrangements expire

In response to continuing changes within the savings market, Nationwide Building Society is today launching new issues of its on-sale Triple Access Online savings accounts as well as its one and two-year fixed rate products. The Society is also withdrawing its three-year fixed rate products from sale.

• ‘Kinda’ tool created by Society to enable staff to receive a helping hand during lockdown
• New tool rolled out for Mental Health Awareness Week 2020 as part of focus on wellbeing
• Society’s 18,000 employees will also have free access to mental health platform Unmind

Nationwide Building Society is today launching new issues of its on-sale Triple Access Online savings accounts in response to the changing market.