Nationwide hit by mortgage loan crackdown despite first quarter profits rise August 18, 2014 Nationwide’s profits more than doubled in the first quarter of its 2014 financial year, the building society said yesterday. But its mortgage lending volumes were hit hard as tougher new rules came into force in April. Gross mortgage lending came in at £5.8bn in the three months from April to the end of June, down [...]
Nationwide sets mortgage cap and tough new stress test for home buyers July 22, 2014 Nationwide has announced it is capping all new mortgages at 4.75 times the income of the borrower, and setting a tough new stress test to ward off concerns over interest rate rises. The bank will impose a new 6.99 per cent stress test, an increase on the existing rate, although a spokesperson would not reveal [...]
The numbers that prove Nationwide is beating three of the big four banks May 28, 2014 As the name suggests, Britain’s Big Four banks are usually considered the biggest lenders in the country. But the country’s biggest building society, Nationwide, today released numbers showing it is firmly the second-biggest mortgage lender in the county. On top of that, it's growing far faster than RBS, Barclays and HSBC, pulling further [...]
Full steam ahead at Nationwide as chief issues warning on housing market May 28, 2014 Nationwide has reported its best ever annual results, but has warned that the housing market may well start seeing a “natural correction”. “At some point buyers just start saying no”, said the mutual's chief executive, Graham Beale, to the BBC’s business editor Kamal Ahmed. The prognosis came as Nationwide reported that it opened 430,000 new [...]