You are here: Home - News -

Nationwide makes customer pledges following Brexit uncertainty

by: Mortgage Solutions
  • 03/08/2016
  • 0
Nationwide makes customer pledges following Brexit uncertainty
Nationwide Building Society, the second largest UK lender, has pledged to support first-time buyers and regular savers in response to Brexit uncertainty and outlined a five-point action plan.

The five-point plans includes low deposit lending, with £10bn earmarked for first-time buyer mortgages, converting to new homes for 100,000 borrowers.

Nationwide made the move which it said reflects its “position as the UK’s largest member-owned organisation”.

The pledges include safeguarding the rates on its regular savings accounts, Help to Buy ISA and Save to Buy products to accelerate home ownership. The mutual will also establish a Brexit support group with representation from leading consumer bodies.

Nationwide’s chief executive, Joe Garner, said: “As a building society, we exist to help people into a home of their own and to help them manage their money and save for the future. Our mutual model means we’re able to plan and operate over the long term.

“In an uncertain economic climate, I believe that responsible and progressive businesses need to do more to help people realise their ambitions. With this in mind, I wanted to set out our five-point plan for how we will stand by our members and customers in uncertain times and help ensure that economic uncertainty doesn’t get in the way of the ladder of opportunity.”

Nationwide’s five-point plan:

1. Minimising costs for first time buyers
2. Maintaining low deposit lending
3. A £10bn a year commitment available to first time buyers
4. A savers’ support package
5. A Brexit consumer support panel

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
stack of pound coins
Precise cuts BTL price in market share push

Precise Mortgages has cut the price on its houses in multiple occupation (HMO) and limited company buy to let (BTL)...