Posts Tagged ‘nationwide’


Nationwide predicts downward spiral for house prices

Sunday, November 29th, 2009

The leading building society Nationwide has recently warned that we should expect downward pressure on property prices in the UK over the coming year. (more…)


Existing customers can get competitive loan rate from Nationwide

Wednesday, September 23rd, 2009

According to a recent report the leading building society Nationwide is offering a highly competitive loan rate to consumers to compete with personal loan rates being offered by some major supermarkets, but the low rate is only being made available to existing customers of the building society. The rate being offered by Nationwide on loans for between £5500 and £15000 taken over five years is 7.7 percent. (more…)


Negative equity mortgages being offered to some customers by Nationwide

Monday, August 3rd, 2009

In response to the rising number of homeowners that have fallen into negative equity since the house price crash in the UK one leading lender has re-introduced the 125 percent mortgage. (more…)


125% Mortgage – Nationwide’s Boost To Those In Negative Equity

Monday, July 20th, 2009

125% mortgage. Just when most of us thought that we would never see figures even approaching 100% with regards to mortgages ever again, Nationwide appear to be thinking outside the box with this, distinctly against market trend, deal it’s offering to those trapped in the misery of negative equity. (more…)


Nationwide takes over Dunfermline Building Society

Wednesday, April 1st, 2009

The troubled building society, Dunfermline, is being taken over by Britain’s largest building society, Nationwide, after running up huge debts for which the taxpayer will pick up the tab.

The merger with Nationwide is part of a package that was announced recently by the Bank of England, and over five hundred employees of Dunfermline will now be transferred over to the Nationwide.

Many branches, assets, and prime mortgage loans have been taken over by Nationwide, and building society officials have said that it will be business as usual for the customers of Dunfermline.

The Prime Minister, Gordon Brown, said that Dunfermline was ‘author of its own mistakes’ when the level of debt was revealed. He said: ‘Let’s face facts. The Dunfermline building society is the author of its own mistakes: mistaken judgments, mistaken investments, mistaken policies. We have had to step in where the Dunfermline building society has failed, and we have stepped in in such a way that we can protect both the savers and give those people who depend on the building society for mortgages a way through for the future.’

The chairman of Dunfermline said that he was pleased with the fact that the building society was being saved but was disappointed that it did not get the government support that would have allowed it to remain as an independent operation.

He said: ‘I am hearing encouraging noises – yet to be confirmed – that Nationwide will do all they can to keep as much employment as they can in Scotland. I and my board have worked tirelessly to protect the members and the staff and we have no reason to feel bad about this. We are deeply disappointed with the Government’s decision. It was unnecessary. But nevertheless we need to move on and we need to work with the new owners.’


Lenders say they will pass on base rate cut

Tuesday, December 2nd, 2008

Following the recent 1.5% base rate cut, and in response to calls from the Prime Minister, Gordon Brown, a number o major lenders in the UK have said that they will be passing on the full 1.5% rate cut to borrowers over the coming weeks. As hoped by the government this could help to ease the financial situation for many consumers, and could ultimately help to boost the flagging economy, as consumers find themselves with more money to spend in the run up to Christmas. (more…)


Nationwide passes on some of interest rate cut

Tuesday, November 11th, 2008

According to recent report the Nationwide Building Society is planning to pass on part of the latest base rate cut, although it will not be passing on the full rate cut to borrowers. Officials state that as of the start of November Nationwide will be reducing the interest rates on its standard variable rate mortgages by a third of a percent, taking the rate from 6.49% to 6.19%. (more…)


Drop in mortgage lending levels for Nationwide

Monday, June 23rd, 2008

Blaming the drop on ‘unprecedented market conditions’ officials from the Nationwide Building Society recently reported that the lender suffered a fall of 40% in mortgage lending levels last year. Many lenders, including the Nationwide, were forced to rein in their lending levels last year after the global credit crunch set in, and these tighter credit conditions have contributed to the lower lending levels seen last year by Nationwide. (more…)


Hikes in personal loan rates may mean credit cards are more viable option

Monday, May 19th, 2008

According to a recent report some consumers may now be better off using their credit cards as a form of finance rather than opting for a personal loan because loan rates have been hiked up by huge amounts since the onset of the global credit crunch. Credit cards are well known for the high rates of interest charged, but officials state that even so some people may find that they are the cheaper option when compared to a personal unsecured loan with a sky-high interest rate. (more…)


Nationwide asks for larger deposits from borrowers

Monday, May 19th, 2008

The Nationwide Building Society recently joined a number of other lenders who have decided to try and recoup the losses incurred by the global credit crunch by asking for a larger deposit from mortgage borrowers. In the past some consumers were able to avoid paying a deposit by taking out a 100% mortgage, and in some cases could even borrow more than the value of the property by taking a 125% mortgage. (more…)