There are a number of different ways Nationwide may be able to help if you’re struggling with a mortgage, loan or credit card that you hold with us. We’ve also removed the early access charge on fixed savings, so you can access cash now to help with your payments.

Find out more

We know that a change to your income, whether it's due to job loss, being furloughed or reduced earnings can make things a little more difficult. Financial support is available, whether you are employed or self-employed.

Benefits and support

A good first step is to ensure you claim any benefits and support you might be entitled to.

If you’ve lost your job

Read the government's latest guidance on financial support available if you’ve lost your job. 

Find out about government support if you’ve lost your job

If you've been furloughed

Find out about your entitlements under the government’s job retention scheme if you’ve been furloughed by your employer.

Find out about entitlements for furloughed employees

If you’re self-employed

If you’re self-employed and no longer getting work, or you’re getting less work than usual, you can still claim support. 

Find out about support available if you’re self-employed

Manage income changes with a budget

If your financial situation has been impacted as a result of changes to your employment, it can be helpful to create a budget. This will help you to get clear on the money you have coming in and going out, and spot where you might be able to make some changes.

Try our budget calculator

Managing money is different for everyone, but there are some tips that can help us all to make the most of the money we have available.

Create a budget

A budget is one of the best ways to get in control of your finances. It will help you to see where your money is going, how much you need to cover bills and essentials, and where you might be able to reduce spending. 

Try our budget calculator

Review your payments

Once you’ve looked at your budget and outgoings, it can help to review your Direct Debits and Standing Orders to identify any non-essential spending which you might be able to go without for a while. Many people have unused memberships or subscriptions that they may be able to cancel - things like film or music subscription services. There may also be more affordable options available. You can usually end a Direct Debit or Standing Order online or by phone but you should always check if your subscription is in contract to avoid any cancellation fees.

You could also think about whether there is anything that you spend on that you could do without, like cutting back on takeaways or magazines.

Review your utility suppliers

It’s often possible to save money by switching suppliers for utilities like electricity or broadband. We’ve partnered with Switchd to make switching energy easy. Switchd can save you an average of £320 per year and as a Nationwide member you’ll get 6 months of Switchd free.

For more details see: https://switchd.co.uk/nationwide_members

Speak to your suppliers

If you’re worried about being able to pay an upcoming bill such as your water, gas, electricity or council tax bills, speak to your supplier or local authority as soon as possible. Many providers can offer special payment assistance to help during difficult times.

More resources

Discover ways to make savings on your usual purchases Money Advice Service

If you’re already in debt, it’s important to clear your priority debts first. These are the debts which carry serious penalties when not paid, such as your mortgage, rent or council tax. If you’re worried about missing a payment, always speak to your supplier as soon as possible as they may be able to help make things easier to manage with special payment assistance.

Find out more about how to prioritise your debts from the Money Advice Service

Understand your rights and entitlements

If you’ve been impacted by coronavirus, there’s a number of rights and entitlements you may be eligible for, which could help support you financially. It’s worth checking to make sure you’re getting everything you’re entitled to. 

Get free confidential advice from a debt adviser

It’s always best to talk to someone as soon as possible if you’re feeling concerned about your finances. The sooner you seek advice, the sooner you can start to feel back in control again. 

If you have debts with multiple providers, a third party debt adviser can help. They’ll discuss your situation without judgement, and help you to find ways to manage your debts, however large or small.

There are many free debt advice services available, providing online, phone and face-to-face support, so you can get help in the way that best suits you. 

Citizens Advice 
Citizens Advice offers free, independent, confidential and impartial debt advice online through their web chat service and by phone.

StepChange Debt Charity
StepChange provides expert advice, budget support and solutions to help you manage your debts.

Debt Advice Foundation
Debt Advice Foundation is a national debt advice and education charity offering free, confidential support and advice to anyone worried about debt.

PayPlan
PayPlan offers an online debt solution tool, PlanFinder. The tool will give you a personalised debt solution in as little as 15 minutes. They also offer free live chat and email support.

Housing costs are often our biggest monthly outgoing. If you’re renting and are worried about meeting your monthly payments speak to your landlord as they may be able to help. They may be able to claim a mortgage payment break or be willing to give you more time to pay.

We’re also contacting landlords who have a mortgage with our dedicated buy-to-let lender, The Mortgage Works, to let them know we can help if their tenants are struggling with their rent because of coronavirus.

Guidance on the financial support available to tenants

Should I borrow money?

It’s important to carefully consider whether borrowing money is the right option for you. You can find lots of advice on borrowing money on the Money Advice Service website.

I’m struggling to find a lender

If you’ve been refused credit or a loan, the Money Advice Service also provides advice on what you can do including improving your credit rating and alternative borrowing options.

Money and mental health often go hand in hand. Worrying about money can make your mental health worse, and poor mental health can make it harder to manage your money.

If you feel like your money worries are impacting our mental health, or if mental health issues are making it harder to manage your money, Mind charity has brilliant advice available.

Visit the mind website for advice on money and mental health

Benefits you may be entitled to

If you struggle with your mental health, you may be able to claim welfare benefits to help you financially.

Find out about mental health and welfare benefits

I’m spending a lot of money gambling

If you’re concerned about your gambling habits, GamCare offers free information, advice and support.

Coronavirus (COVID-19) help and support

We’re here to help if you have any worries regarding coronavirus whether it’s money, managing your accounts, getting to branch or fraud.