News

• Nationwide Spending Report shows £8 in every £10 of average salary goes on essential spend
• Rise in essential costs comes as discretionary spend dips for the second consecutive period
• Poll shows Brits had average £426 debt last Christmas, taking 2.5 months on average to pay off
• But children set to have average of £153 spent on them as parents refuse to cut back on kids

• 196,000 savers already helped with mortgage deposit, receiving an average £800 each from Government
• Current deadline for last chance to apply for Help to Buy ISA only a year away

• Two thirds have a business idea up their sleeve, but only four per cent managed to start own business
• Eight in ten said having a mentor would make a difference to them being their own boss
• But half said they didn’t have anyone they could turn to as a business mentor
• Nationwide launches regional mentoring pilot to support new businesses

• Nearly a third of Brits risk giving scammers access to their finances, research shows
• Those living in Wales most willing to put themselves at risk of remote access fraud
• One in eight would give full login details to someone impersonating their bank or building society
• Those aged 25 to 34 most at risk of leaking passcode details

• Nationwide today commits to launching business banking proposition that will shake up market
• But £50 million funding from RBS remedies fund would deliver a bigger impact, sooner
• Branches & digital at heart of Society plans with small businesses to be served on their terms
• Society applies for Incentivised Switching Scheme as it looks to maximise impact at launch

• Nationwide introduces unique new assessment for graduates and apprentices
• Escape room format mirrors popular games like Crystal Maze and Krypton Factor
• Latest element will complement more traditional ways of assessing new talent

• Just five per cent of Brits would fall for the traditional doorstep builder scam¹
• But more than a quarter would put themselves at risk of fake email invoice scams
• Research shows many Brits would fail to query whether an invoice is real or fake
• A third in the South West would fail to check versus a fifth in Northern Ireland
• Nationwide urges people to always stop and think before paying an invoice

Today, Nationwide has enhanced its savings range by increasing its one and two-year Bonds and Fixed Rate ISAs (FRISA) and launching a new three-year Bond and FRISA.

• Parents expect to have saved around £7,000 by the time their child turns 18
• Money intended to help children get a home, buy a car or fund university
• But over a third of parents have had to dip into their children’s savings in an emergency
• A quarter have never spoken to their children about money and saving

• More than a third of private tenants have lost some or all of a previous tenancy deposit
• Average time for return of deposit is almost two months – but for more than one in five it takes 3 months +
• Two in five lose deposit cash to wear and tear or cleaning costs

Poll follows #TogetherAgainstHate campaign aimed at raising awareness of online abuse

• One in six people receive online abuse while one in 20 have sent hateful comments
• Abusive, sexist, racist and homophobic posts most common types received
• Lack of reaction allows hate to fester as a quarter of recipients fail to report posts

• Nationwide’s Open Banking for Good challenge set to help those living on a financial knife edge
• Participants challenged to develop apps and services to combat common financial capability issues
• Challenge convenes experts from Nationwide, Doteveryone, Money Advice Trust, Nesta, Accenture
• Launches with a £3 million fund from Nationwide to ignite, challenge and encourage innovation