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:
Consumer confidence continues decline
by Richard Kilner
Story link: Consumer confidence continues decline
The latest Nationwide Consumer Confidence Index has revealed that consumer confidence fell 7 points in July, to 56.
This is the third consecutive time the monthly index has seen consumer confidence fall.
The Expectations Index saw an even heftier fall, down 13 points, continuing a trend which began in February of this year.
The Bank of England’s decision [...]
Consumer confidence continues to decline
by Richard Kilner
Story link: Consumer confidence continues to decline
The Nationwide Consumer Confidence Index fell in June, for the second consecutive month, to stand at just 63.
In June, only the Present Situation Index rose with the Expectations Index and Spending Index falling to recent lows (the lowest since May and January 2009 respectively).
The Expectations Index has declined every month since February, to fall 32 [...]
Building society consolidation enters new phase
by Gill Montia
Story link: Building society consolidation enters new phase
Nationwide is to take a back seat in any further consolidation in the building society sector, The Independent has reported.
Since the onset of the credit crisis, the UK’s largest building society has absorbed Derbyshire and Cheshire societies and acquired certain assets from Dunfirmline, when it came close to collapse in March of last year.
Further consolidation [...]
Nationwide to part company with England football team
by Gill Montia
Story link: Nationwide to part company with England football team
Nationwide is expected to end its sponsorship of the England football team.
According to reports, the building society’s offer of £20 million, to extend its eleven-year relationship with the team for a further four years, has been turned down by the FA.
It is also understood that sponsorship deals with the Welsh, Scottish and Northern Irish teams [...]
Nationwide selects Unisys to enhance IT platform
by Richard Kilner
Story link: Nationwide selects Unisys to enhance IT platform
The UK subsidiary of Unisys Corporation has completed a database consolidation initiative with Nationwide Building Society that will provide the financial institution with significant savings in energy and operational costs by 2012.
The move is core to Nationwide’s Data Centre Transformation initiative and involves the transfer of 600 production databases and 170 systems from increasingly obsolete [...]
Consumer Confidence fell in May
by Richard Kilner
Story link: Consumer Confidence fell in May
Consumer confidence slumped by 10 points in May, according to the Nationwide Consumer Confidence Index.
The Spending Index was unchanged, but the feelings of confidence in the present and future situations declined during May.
The Expectations Index fell sharply, down 12 points, with 22% of those surveyed stating they believe that the situation will be in worse [...]
Nationwide reports annual results
by Richard Kilner
Story link: Nationwide reports annual results
Nationwide Building Society has reported that it made an underlying profit of £212m for the year ended 4 April 2010, with statutory pre-tax profits of £341m.
Before provisions are taken into account Nationwide recorded an underlying profit of £811m.
The building sosicety’s capital ratios remain good, standing at 12.2% for the Core Tier 1 ratio and 15.3% [...]
Nationwide launch Little Britain ad campaign
by Richard Kilner
Story link: Nationwide launch Little Britain ad campaign
Nationwide Building Society has announced that its new advertising campaign will feature characters from the cult sketch show Little Britain.
The adverts will feature comedy duo Matt Lucas and David Walliams and run from 16 May to 12 July under the slogan “Nationwide. Proud to be different”.
The first of three commercials will feature Matt Lucas as [...]
Consumer Confidence marginally rises
by Richard Kilner
Story link: Consumer Confidence marginally rises
Nationwide Building Society’s latest Consumer Confidence showed a marginal rise in confidence, up by one point to 74 in April, 23 points higher than the same time last year.
Interestingly, faith in the future declined for the second consecutive quarter but at the same time confidence in the present situation improved.
The Expectations Index stood at 118 [...]
Confidence slumps before polling day
by Richard Kilner
Story link: Confidence slumps before polling day
Consumer confidence is on the decline, the Nationwide Building Society has reported.
Nationwide’s Consumer Confidence Index slumped by nine points, the largest decline in a single month since July 2008.
In February the Confidence Index rose by six points, hitting 80, the highest point since January 2008.
Present Situation and Expectations also plunged, down four and 11 points [...]
Savers on the rise in March
by Richard Kilner
Story link: Savers on the rise in March
Nationwide Building Society’s has seen its Savings Index rise by three points to 94 in March, following a six point rise in February.
March is the middle of the ISA season, and may be behind the rise as ISAs are more popular than ever.
Head of Savings Andy Hutchinson has said that the rise in the Savings [...]
Nationwide limits over the counter cash withdrawals
by Gill Montia
Story link: Nationwide limits over the counter cash withdrawals
Nationwide Building Society is increasing the minimum amount of cash that can be withdrawn over the counter.
From 7th June, a queue-busting initiative means that the society’s lower cash withdrawal limit increases from £30 to £100 for FlexAccount customers with a cash card, and CashBuilder customers.
The move is aimed at speeding up transactions and freeing up [...]
New FSA guidance for building societies
by Gill Montia
Story link: New FSA guidance for building societies
The Financial Services Authority (FSA) has published additional guidance for building societies which will come into effect on 1st April 2010.
The regulator says it wants to ensure that where societies diversify from traditional business models, they have the risk management systems and skills necessary to operate safely.
The move follows a series of mergers in the [...]
Nationwide launches four year fixed rate ISA
by Richard Kilner
Story link: Nationwide launches four year fixed rate ISA
Nationwide Building Society has announced it is launching a new four year Fixed Rate ISA paying 4.25% gross p.a./AER*, available for balances of £1 or more, and accepting ISA transfers-in.
Nationwide has also announced some other changes to its ISA range, with a three year Fixed Rate ISA paying 4.15% gross p.a./AER* (for balances of £1 [...]
Nationwide offers new personal loan rate
by Richard Kilner
Story link: Nationwide offers new personal loan rate
Nationwide Building Society has introduced a new personal loan rate of 7.9% APR typical for sums between £7,500 and £14,999 over a five year period.
The new rate is accessible to its current account holders, and follows the withdrawal of a special low market leading personal loan rate available only to Nationwide’s current account customers.
The 7.9% [...]
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 [...]
