Nationwide races ahead of competitors with five per cent rates June 21, 2022 One of the UK’s biggest high street banks is offering savers a five per cent interest rate as competition among lenders to secure deposits heats up. Nationwide today has upped its rates on its FlexDirect account on balances up to £1,500 for the first year from two per cent, a more than double increase. The [...]
Bonanza pay deal of up to £3.4m for new Nationwide chief executive June 19, 2022 The new boss of building society Nationwide could be awarded as much as £3.4m a year if she hits all targets. Debbie Crosbie is set to trouser a salary worth more than £1m while she will also be awarded up to £1.7m over seven years to cash out of pay deals at previous employer TSB. [...]
Nationwide posts strongest results on record on the back of Britain’s booming property market May 20, 2022 The world’s biggest building society, Nationwide, today posted its strongest financial results on record on the back of Britain’s booming property market. The mortgage lender said its underlying profits had more than doubled from £790m for the financial year 2021 to £1,604bn for the financial year 2022. Nationwide said it had performed well across its [...]
House price growth slows but remains in double digits April 29, 2022 Growth in house prices has slowed this month, but remains in double digits, according to the Nationwide House Price Index.
House price growth hits highest level since 2004 with record average of £265.3k March 31, 2022 Annual house price growth has increased to 14.3 per cent, from 12.6 per cent in February. According to Nationwide’s house price index, this was the strongest pace since November 2004. The price tag of the average home hit a new record of £265,312, an increase of more than £33,000 in the past year. Prices have [...]
Nationwide customers face online banking delays for the fourth time in three months February 28, 2022 Nationwide was hit with another outage this morning, with many users on social media complaining about payment and transfer delays.
High volumes of transactions force Nationwide to ‘queue’ inbound payments after 10m transfers overnight January 4, 2022 Following news that customers of Nationwide were unable to carry out any payments, the third time this month, thousands of angry Brits took to social media to demand an explanation. This afternoon, the bank explained to City A.M. that it took the decision to “queue” inbound faster payments, where money is sent to and from [...]
TSB’s Debbie Crosbie becomes Nationwide’s first female chief exec December 3, 2021 Nationwide Building Society, Britain’s second-biggest provider of home loans, said this morning it has appointed Debbie Crosbie as its new chief executive officer. Crosbie, who is currently the chief exec of Spain’s Sabadell’s TSB unit, will take over from Joe Garner in the new year. She will be the group’s first female executive director, Nationwide [...]
First time buyers face significant barriers as earnings lag behind soaring house price growth November 25, 2021 First time buyers are facing significant hurdles to raising a deposit as they come up against high prices relative to average earnings. House price growth has surpassed earnings growth over the past year and the ratio of house prices to earrings has hit a record high, the Nationwide House Price Index set out. A 20 [...]
Nationwide profit more than doubles as UK economy recovers November 19, 2021 Nationwide has reported that its profits more than doubled for the half-year, amid the UK's economic recovery.