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:
- Savings account
- Current account
- Loans
- Credit cards
- Home mortgage
- House insurance
- Car insurance
- Travel insurance
- Income protection
The Nationwide Building Society also publishes a number of key economic indicators, such as:
Latest Nationwide News:
Nationwide honours EDM for document retrieval system
by Gill Montia
Story link: Nationwide honours EDM for document retrieval system
Nationwide has acknowledged the contribution made in reorganising its customer files by its supplier, EDM Group.
The document manager solution provider has received two accolades in the buildings society’s annual Business Services Supplier awards in connection with the archive and retrieval system that it completed for Nationwide earlier this year.
EDM won first place for Innovation and […]
Nationwide profits rise 17% despite 40% decline in lending
by Gill Montia
Story link: Nationwide profits rise 17% despite 40% decline in lending
Nationwide, the UK’s largest building society, has reported that new mortgage lending dropped by 40% in the twelve months to the beginning of April, to £6.7 billion.
Despite this dramatic fall, underlying pre-tax profits rose 17% to £781.1 million
The year saw customer deposits increase threefold, to £9.1 billion, as worried savers transferred cash from Northern Rock […]
Nationwide opts for EDM document handling system
by Gill Montia
Story link: Nationwide opts for EDM document handling system
Nationwide aims to shorten its customer response times with the installation of a new document management system.
The building society has selected EDM Group’s Scan on Demand business solution, which provides flexible access to archived customer data.
DM currently manages 2.5 million customer files at its Wolverhampton site. The firm can scan and upload documents as required […]
Nationwide raises Flex account overdraft rate
by Gill Montia
Story link: Nationwide raises Flex account overdraft rate
From the 1st June, Nationwide is raising the overdraft interest rate for its four million Flex account customers by 3%, to 12.45%.
The building society is also reducing the interest paid on credit balances from a maximum of 3.75%, to 3.5% while extending the limit for customers who qualify for its best credit-balance interest rates from […]
OFT Argument Flawed, Says Nationwide
by Stewart Douglas
Story link: OFT Argument Flawed, Says Nationwide
The High Court has today heard that the Office of Fair Trading’s arguments against consumer bank charges have a number of “flaws”, according to a statement made by Nationwide QC Geoffrey Vos in the high profile bank charging test case.
The suggestion came as the QC respresenting Nationwide, Geoffrey Vos, laid out the building society’s case […]
Nationwide Boosts Mortgage Interest Rates
by Stewart Douglas
Story link: Nationwide Boosts Mortgage Interest Rates
The biggest building society in Britain, Nationwide, has today announced it is to raise interest rates across its tracker mortgages by up to 0.15% in spite of the freeze by the Bank of England, in a move that has been justified as absorbing increased operating costs in the current financial climate.
The move today sees rates […]
Nationwide tops most trusted bank poll
by Gill Montia
Story link: Nationwide tops most trusted bank poll
In a survey undertaken by moneysupermarket.com, the price comparison website, Nationwide has been voted the most trusted bank or building society in the UK.
Nineteen per cent of respondents voted for Nationwide; followed by 13% for NatWest (2nd place) and 11% for Halifax (3rd place).
Good customer service was seen as paramount by 39% of those questioned, […]
Nationwide Credit Crunch Victors
by Stewart Douglas
Story link: Nationwide Credit Crunch Victors
UK building society Nationwide has today announced it has performed better as a result of the credit crunch, with customers viewing it as a safe stable alternative in light of the investment disasters and liqudity problems at other leading deposit holders over the course of the summer.
The largest independent building society in the UK reported […]
Order of payments confuses credit card users
by Gill Montia
Story link: Order of payments confuses credit card users
Which?, the consumer group, has been highlighting concerns about the order of payments (OOP) system operated by UK credit card providers.
OOP refers to the sequence in which a credit card bill is paid; for the consumer it is most advantageous to have the most expensive debt paid first.
For example, a credit card holder may have […]
Job losses in Nationwide and Portman merger
by Gill Montia
Story link: Job losses in Nationwide and Portman merger
The Nationwide, which was already the UK’s largest building society, has completed its takeover of the Portman.
The enlarged building society will rank as the UK’s second biggest mortgage provider, after the Halifax.
The Nationwide expects the move to improve customer service and create efficiencies.
However, it is also expected to result in the closure of 100 branches […]
Which? survey embarrasses leading banks
by Gill Montia
Story link: Which? survey embarrasses leading banks
Which?, the consumer group, has published its ‘best buy’ survey of bank accounts, which did not feature accounts offered by Barclays, HSBC, Lloyds TSB or NatWest.
According to Which?, consumers borrowing and saving with the four leading banks are getting poor value interest rates combined with customer service that is below the standard of some […]
OFT brings test case on overdraft charges
by Gill Montia
Story link: OFT brings test case on overdraft charges
The Office of Fair Trading (OFT) has forged an agreement with a number of UK banks, including HSBC, Lloyds TSB, Royal Bank of Scotland and Nationwide, to go to court in a test case over overdraft charges.
Thousands of customers have sued their banks for the return of what they consider to be unreasonable fees for […]
Nationwide launches 25-year fixed-rate mortgage
by Gill Montia
Story link: Nationwide launches 25-year fixed-rate mortgage
Following the Chancellor of the Exchequer’s recent pledge to encourage the provision of long-term fixed-rate mortgages, Nationwide has relaunched its 25-year fixed-rate mortgage.
The relaunch aims to provide a mixture of stability and flexibility for borrowers who will be able to fix their interest rate at 6.39% for the full 25-year term.
Currently short-term fixed-rate mortgages are […]
Nationwide Tops Credit Card Poll
by Gill Montia
Story link: Nationwide Tops Credit Card Poll
Nationwide has taken first place in the uSwitch.com annual credit card survey, for the second year running, with 94% of customers reporting satisfaction with the service received. Nationwide provides its customers with a preferential order of repayments and does not include exchange rate loading fees for overseas use of its card. American Express came second […]
Nationwide launches new fixed ISA Bonds
by Brian Turner
Story link: Nationwide launches new fixed ISA Bonds
The Nationwide Building Society has launched a new range of Fixed Rate ISA Bonds.
Two versions are offered, one year and two year bonds, and both pay a guaranteed annual rate of 6.05%. Those who wish to draw a monthly income from their bonds receive a 5.85% annual interest rate.
A maximum opening investment of £3000 is […]
