News

Nationwide Building Society is today announcing that it will invest in Switchd, a company that automatically switches people’s energy supplier to ensure they are always on the best deal. 

• Society launches new Member Exclusive Bond to reward existing members – the first of new limited-time offers with higher rates
• Competitive range of products for both new and existing members, including launch of simple new accounts
• Simplified range designed to make choosing the right account easier by offering a clear relationship between rate and access

• 1 in 5 spend over half their spare monthly wages within 48 hours of getting paid
• Impulse purchases soar after payday, leaving 59 per cent with spending regrets
• 6 in 10 have less than £100 in their accounts before they get paid 
• 15 per cent have no money at the end of the month, with funds running out 6 days before payday
• More than half dip into savings to sustain themselves until payday

• Action on Empty Homes and Nationwide Building Society call for targeted national investment to bring homes back into circulation to help reduce the housing crisis 
• Empty homes in England increase by 5% (11,000) – double the rise of previous year
• Now more than 200,000 empty homes across the country after second year-on-year rise

• Decision In Principle no longer leaves hard footprint on customer credit score
• Updates to broker system to provide greater range of information and reduce calls

Nationwide Building Society today announces its latest venturing fund investment in Bunk, a digital lettings agency. 

• Only a third of over 55 year olds plan to move to a smaller house, shows Nationwide poll 
• More than half see their current property as their forever home  
• Four in ten haven’t thought or don’t know about how they will cope with their home in retirement
• But more than one in five say they will rely on family to help them with the upkeep of their home

After more than eight years on the board, Lynne Peacock, Senior Independent Director and Chair of the Remuneration Committee, will retire from Nationwide at the end of 2019.

Nationwide Building Society is today making changes to its fixed rate savings range with new rates for its one and two-year Bonds and Fixed Rate ISAs (FRISAs).

• Follows launch of suite of Later Life products and advice to its mortgage members
• Society first on high street to offer with package for older mortgage borrowers
• Designed to help growing numbers of older people live their retirement of choice

• Leaving things to the last-minute costs people £449 a year or £29,200 over a lifetime
• 63% identify as procrastinators, leaving it late to buy gifts, plan holidays and save money
• Men procrastinate more costing them £571 a year, compared to just £325 for women
• One in three feel guilty about not exercising, 29% feel bad about not saving money

• 32% haven’t visited a butcher and 23% have never been to a greengrocer
• But kids prefer shops to online as they can explore, talk and feel grown up
• Three quarters of parents stick to supermarkets and four in ten shop online
• Kids want more places to play, more variety and mum and dad to take them