Nationwide Building Society news
The Nationwide Building Society is the UK's largest building society and the second biggest mortgage lender.
The company operates a number of personal financial services, not least in consumer finance such as mortgages, savings, loans, and credit cards, as well as a range of domestic insurance policies.
The Nationwide Building Society also publishes a number of key economic indicators, not least its House Price Index (HPI).
Latest Nationwide News:
Nationwide reports increasing number of savers
by Richard Kilner
Story link: Nationwide reports increasing number of savers
Nationwide Building Society has reported that the total number of savers is now at its highest level since May 2008.
In February eight out of 10 consumers described themselves as either regular or occasional savers, a rise that may be due to the corresponding increase in consumer confidence.
The last Nationwide Consumer Confidence Index saw a six [...]
Consumer confidence on the rise says Nationwide
by Richard Kilner
Story link: Consumer confidence on the rise says Nationwide
Nationwide Building Society’s latest Consumer Confidence Index has measured a six point rise in consumer confidence, taking the index to 80, the highest level since January 2008.
In addition, the Expectations index reached its highest ever level (115) following a six point climb.
The Present Situation index increase by four points to 27, whereas the Spending index [...]
Nationwide launches new ISA range
by Richard Kilner
Story link: Nationwide launches new ISA range
Nationwide Building Society has today launched a new ISA, the Champion ISA, which pays up to 2.50% gross p.a./AER variable.
The Champion ISA will be available to new and existing customers from any Nationwide branch, with the core rate set as the average from branch-based cash ISAs from a basket of eight key competitors.
Until the end [...]
Nationwide enhance cardholder security
by Richard Kilner
Story link: Nationwide enhance cardholder security
Nationwide Building Society has utilised the latest version of VeriFone’s PAYware Merchant software solution to enhance its cardholder data security, a major step in meeting Payment Card Industry Data Security Standard (PCI DSS) requirements.
Nationwide serves a customer base of 15 million people who access its products and services in person, online, over the telephone and [...]
Nationwide sees consumer confidence rise
by Richard Kilner
Story link: Nationwide sees consumer confidence rise
Nationwide Building Society’s latest Consumer Confidence Index has revealed that January saw a 3 point rise to 73%, almost double the 39% recorded at the same time one year ago.
The view of the present economic situation also showed some improvement, with 22% of those surveyed believing there were many or some jobs out there, compared [...]
Consumers saved less during December
by Richard Kilner
Story link: Consumers saved less during December
Consumers are reducing their saving, according to Nationwide.
The building society has reported that during the build up to Christmas saving declined in importance for consumers, and that one in four are not saving anything at all.
In addition, less than half (45%) save regularly.
A combination of Christmas shopping and the impending VAT rise meant that Christmas [...]
Nationwide offers 7.6% personal loan
by Richard Kilner
Story link: Nationwide offers 7.6% personal loan
Nationwide’s main FlexAccount customers can now benefit from a new lower rate five year personal loan with 7.6% APR typical for loans of between £7,500 and £14,999.
This rate is the lowest in the country, and remains at the same level regardless of whether it is taken out via the telephone, internet or in person at [...]
December sees consumer confidence decline
by Richard Kilner
Story link: December sees consumer confidence decline
Snow was not alone in falling during December, with confidence down during the festive season according to Nationwide.
Consumer confidence slumped by 5 points to 69, the largest fall during the whole of 2009.
The Consumer Confidence Index also showed that 95% of those surveyed expect the Bank of England to retain rates at the historic low [...]
Parents anxious about children falling into debt
by Richard Kilner
Story link: Parents anxious about children falling into debt
Nationwide has conducted research in conjunction with the Personal Finance Education Group revealing that some 69% of British parents are concerned about their children falling into debt in the future.
This marks a rise from last year when only 62% of parents felt anxious about the subject.
The research also shows that parents believe financial responsibility ought [...]
Adverse order of payments a hot topic at Nationwide
by Gill Montia
Story link: Adverse order of payments a hot topic at Nationwide
Consumers’ emotions are running high over the order of payments adopted by most credit card providers.
According to research from Nationwide, 56% of credit card customers questioned would be either angry, shocked or surprised if they found that their credit card provider paid off their cheapest debt first.
However, the majority of providers do exactly that, leaving [...]
BSA calls for “level playing field” in UK financial services
by Gill Montia
Story link: BSA calls for “level playing field” in UK financial services
The Building Societies Association (BSA) is calling on the Government to create a “level playing field” in the UK’s financial services sector.
The Association believes its members are unfairly disadvantaged in the current regulatory environment, which demands lenders hold higher levels of capital.
The UK’s mutuals are limited in the ways in which they can raise funds [...]
Nationwide reports half-year results
by Richard Kilner
Story link: Nationwide reports half-year results
Nationwide Building Society has released its financial results for the six months ending on 30 September.
The firm achieved underlying profits of £117m, (down from £322m in 2008), coupled with a Core Tier 1 capital ratio of 12.0% and core liquidity ratio of 12.9%.
Nationwide saw a reported pre-tax profit of £143m and is the second largest [...]
Nationwide backs credit card review
by Richard Kilner
Story link: Nationwide backs credit card review
The Credit and Store Card Review, to be published by the Department of Business, Innovation and Skills (BIS), has been welcomed by the Nationwide Building Society.
The review calls for an end to the usage of adverse order of payments within the UK, which costs UK consumers around £500m per annum.
The US has already made moves [...]
Nationwide sees Savings Index rise
by Richard Kilner
Story link: Nationwide sees Savings Index rise
The Nationwide Savings Index is at its highest level since November 2008, following a recent rise in all four indices.
The Savings Index increased by 10 points to 87, and the Importance of Savings Index was up 5 points to 91.
The Savings Environment Index and Future Savings Index rose by 11 and 16 points respectively.
More people [...]
Nationwide plans RMBS issue
by Gill Montia
Story link: Nationwide plans RMBS issue
Nationwide is proposing to raise cash in a sale of UK residential mortgage-backed securities (RMBS).
The building society has appointed Barclays Capital, Citigroup and JP Morgan to manage the issue, which will be launched once promoted to investors and when market conditions are judged to be right.
Bad debt resulting from investments in mortgage-backed securities has been [...]
Nationwide: consumer confidence still rising
by Richard Kilner
Story link: Nationwide: consumer confidence still rising
Consumer confidence is continuing to rise, according to the Nationwide’s Consumer Confidence Index.
Confidence has marginally increased to 63 in August, up by two points.
However, consumers remain wary of making big-ticket items, with the number who would consider purchasing a house or car drifting downward from 35% to 33%.
Chief Economist Martin Gahbauer explained that the results [...]
HSBC and Nationwide safest institutions in the UK
by Richard Kilner
Story link: HSBC and Nationwide safest institutions in the UK
New York-based Global Finance magazine has released its 2009 list of Top 50 Safest Banks.
Unfortunately for the UK only a pair of British names, building society Nationwide and banking giant HSBC, appear on the 18th edition of the list.
To compile the fifty-strong list, Global Finance compare and assess 500 of the world’s biggest financial institutions, [...]
Building societies oppose new regulation
by Gill Montia
Story link: Building societies oppose new regulation
The Building societies Association (BSA) has aired concerns about proposed new regulation, claiming that it could leave the UK’s mutuals less able to compete with banks.
New measures drawn up by the Financial Services Authority (FSA) could impose limits on the type of lending undertaken by the societies, for example, preventing them from offering high loan-to-value [...]
Lloyds no longer among world’s 50 safest banks
by Gill Montia
Story link: Lloyds no longer among world’s 50 safest banks
Lloyds Banking Group shares came under pressure yesterday on the news that the group has not appeared in the 2009 list of the world’s 50 safest banks, Lloyds TSB having taken sixth place in the 2008 list, as prepared by Global Finance Magazine.
The disastrous merger of Lloyds TSB and HBOS has left the group 43% [...]
Which? exposes banks’ online security blunders
by Gill Montia
Story link: Which? exposes banks’ online security blunders
Which? Computing has been highlighting the gaps in security that put online banking customers at risk.
According to the consumer group, standards vary widely and some High Street names have been found wanting.
For example, when it comes to log-in procedures, Abbey and Halifax have far to go; First Direct, Lloyds TSB, Nationwide, NatWest and RBS qualify [...]
