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News Tag: Nationwide Building Society

November 29, 2012

House prices stable says Nationwide

by Jan Harris
House prices stable says Nationwide
The average price of a house remained at just under £164,000 in November, the same as the previous month but 1.2 per cent lower than in November last year. The average house price is now 12 per cent lower than it was in October 2007 when it peaked at £186,044. The figures from the Nationwide’s latest monthly survey reflect a fall in unemployment ...




November 27, 2012

Nationwide confirms interest in RBS branches

by Jan Harris
Nationwide confirms interest in RBS branches
Nationwide Building Society, Britain’s biggest mutual lender, has told Reuters news agency that it is interested in purchasing the portfolio of branches being sold by Royal Bank of Scotland. The acquisition would support Nationwide’s plan to start lending to small and medium-sized enterprises. Speaking to Reuters, Nationwide’s chief executive Graham Beale said: “Strategically we want to enter into the SME space. ...




November 6, 2012

Halifax reports fall in house prices

by Jan Harris
Halifax reports fall in house prices
House prices in the three months to October fell by 1.2 per cent compared with the previous three months, the Halifax said. According to the Halifax House Price Index, the average house price fell to £158,426 in October 2012, a fall of 0.7 per cent compared with the previous month, and 1.7 per cent lower than the average house ...




October 4, 2012

Nationwide stops offering interest-only mortgages

by Jan Harris
Nationwide stops offering interest-only mortgages
From 11 October new borrowers will no longer be able to take out an interest-only mortgage with Nationwide building society. Nationwide is following the Co-op bank, which pulled out of interest-only mortgages in May, while Santander and HSBC only offer this type of product to house-buyers with a 50 per cent deposit. Nationwide also previously offered interest-only deals to people with 50 per cent ...




October 2, 2012

Nationwide suggests house prices will remain flat

by Jan Harris
Nationwide suggests house prices will remain flat
Nationwide building society has reported a 0.4 per cent fall in house prices in September, following a rise of 1.1 per cent in the previous month. However, the building society suggests that the annual rate of house price change is a more accurate indication of the state of the housing market, as monthly figures have been affected by factors such as ...




August 1, 2012

House price fall accelerates in July

by Jan Harris
House price fall accelerates in July
Nationwide building society reported a faster fall in house prices in July, as the economy continues to falter. House prices fell by 0.7 per cent in July, the fourth time they have declined in five months, and the fastest fall in three years. The average house price is now £164,389, 2.6 per cent lower than a year ago. Nationwide attributed falling ...




July 26, 2012

Nationwide debits payments twice after ‘human error’

by Jan Harris
Nationwide debits payments twice after ‘human error’
Customers of Nationwide building society may have been charged twice for Visa debit card transactions, due to a ‘human error’. The accounts of customers who made debit card payments on Tuesday 24 July may have been debited for a second time on Wednesday 25 July. The mistake has led to many of the building society’s 4 million current account holders going ...




Barclays and Nationwide launch new mortgage deals

by Jan Harris
Barclays and Nationwide launch new mortgage deals
Following the announcement of the government’s £80 billion Funding for Lending scheme, Barclays and Nationwide have cut their mortgage rates. The mortgage market has been shrinking for some time, with lenders tightening their lending criteria and demanding high deposits on home loans. Last month the number of mortgages approved for house purchases fell by 11 per cent according to figures ...




July 13, 2012

OFT to review Personal Current Account market

by Jan Harris
OFT to review Personal Current Account market
The Office of Fair Trading (OFT) is to assess whether banks have made it easier for customers to switch current accounts. Following a review in 2008 the OFT said that the personal current account market was not working well for consumers. It reported a lack of transparency over charges, making it difficult for customers to compare their bank account with others in ...




March 7, 2012

House prices down 1.1% in February

by Jan Harris
House prices down 1.1% in February
House prices fell 1.1 per cent in February according to The Halifax, contradicting earlier figures from Nationwide suggesting that property prices have increased. According to the Halifax’s three monthly index, house prices were 1.1 per cent lower in February than in the previous three months. The mortgage lender’s annual index showed that property prices fell by 1.9 per cent compared with the ...




February 2, 2012

Government finds land for 80,000 homes

by Jan Harris
Government finds land for 80,000 homes
The Government launches its NewBuy mortgage guarantee scheme in March, which will help house buyers by underwriting 95% mortgages on new-build properties up to £500,000 in value. The scheme depends on having sufficient sites available to house builders and housing minister Grant Shapps revealed today that sufficient land for 80,000 properties has already been identified. Mr Shapps said he is now ...




November 29, 2011

Nationwide reports increase in house prices

by Jan Harris
Nationwide reports increase in house prices
The latest house price figures from Nationwide Building Society contradict yesterday’s news from the Land Registry that house prices have fallen over the past year. Nationwide today said that house prices are ‘surprisingly resilient’ with November’s figures showing a year-on-year increase of 1.6%. In contrast the latest Land Registry figures showed a 3.2 per cent fall in prices over the year. ...




November 22, 2011

Nationwide announces 48% increase in mortgage lending

by Jan Harris
Nationwide announces 48% increase in mortgage lending
Despite the slump in the housing market, Nationwide Building Society’s gross mortgage lending increased by 48% to £8.9 billion in the six months to September. Although the number of first-time buyers in the market continued to fall, Nationwide lent more than £1.2 billion to this group in the first half of the year, 3 per cent more than it did ...




October 21, 2011

Nationwide: UK consumer confidence slips further in September

by Kay Mitchell
”Nationwide:
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of September. The building society’s consumer confidence index fell for the fourth consecutive month, falling by 3 points to 45 in September – hovering dangerously close to the all-time low of 41. Furthermore, it is 10 points lower than this time last ...




September 29, 2011

Nationwide: House prices rise just 0.1% in September

by Kay Mitchell
”Nationwide:
The latest house price index from the Nationwide Building Society has revealed prices rose by just 0.1% in September on a monthly basis. On an annual basis, house prices are now 0.3% lower than this time last year with the average UK home costing £166,256. Meanwhile, when comparing prices in the three months to the end of September with ...




July 21, 2011

Nationwide: UK consumer confidence down in June

by Kay Mitchell
”Nationwide:
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of June. The building society’s consumer confidence index lost 4 points to 51 last month, which reverses some of the 11 point rise seen in May, which represented one of the largest gains on record. The index is still below the average of ...




June 15, 2011

UK consumer confidence up in May

by Kay Mitchell
”UK
The latest survey from the Nationwide Building Society has revealed a surge in UK consumer confidence for the month of May. The building society’s consumer confidence index rose 11 points to 55 last month – the biggest monthly increase in 5½ years, and takes the index to a five-month high. However, the index is still below the average of 81. Last month’s surge ...




May 25, 2011

Nationwide reports rise in underlying pre-tax profits

by Kay Mitchell
”Nationwide
Britain’s largest building society, Nationwide, has today posted a surge in underlying pre-tax profits. Nationwide said pre-tax profits fell 7% to £317 million – primarily due to accounting changes. However, underlying profits surged 30% to £276 million in the year to 4 April. Meanwhile, the amount written off for bad loans to customers dropped by more than a third to £359 ...




March 18, 2011

UK consumer confidence sinks to record low in February

by Kay Mitchell
”UK
The latest survey from the Nationwide Building Society has revealed a severe decline in UK consumer confidence for the month of February. The building society’s consumer confidence index plunged to 38 in February - a fall of 10 points and the lowest level since records began in May 2004. The latest fall means confidence is lower than at any ...




February 16, 2011

UK consumer confidence takes a knock in January

by Kay Mitchell
”UK
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of January after rising in December. The building society’s consumer confidence index plunged to 47 in January from 54 the previous month - just 6 points above the record low of 41 and way below its average of 81. In the ...