Nationwide building society
Nationwide was established in 1846 and is headquartered in Swindon in Wiltshire from where it offers its mortgage, savings and other personal finance products. In May 2013, it announced plans to bring its merger partners Derbyshire, Cheshire and Dunfermline Building Societies under the Nationwide brand.
In 2011, Nationwide was the fourth largest mortgage lender in the UK after providing £17.1bn of borrowing, matching Barclays' lending for the year.
Property prices in the UK have continued to rise, but at a much slower pace than previously at 0.1%.
The Mortgage Works (TMW) is to apply a reducing scale of early repayment charges (ERCs) to all new buy-to-let mortgages, where customers redeem their loan before the end of the deal period.
Nationwide is to introduce the lowest 10-year fixed rate mortgage on the market, starting from 2.89% for new customers and 2.79% for existing customers.
Other Nationwide building society articles
House price growth fell to 5.7% in February following a slowdown in activity, research has shown.
More than two-thirds (71%) of buyers in England and Wales will benefit from changes to the Stamp Duty Land Tax (SDLT) announced in the Autumn Statement, according to Nationwide.
Nationwide's market share of gross lending dropped from 15 to 13% after its gross lending fell from £21.6bn to £20.4bn year-on-year in the last nine months of 2014.
Henry Jordan, who was previously managing director of Nationwide's buy-to-let arm The Mortgage Works (TMW), has been appointed as the society's new head of mortgages.
Nationwide has promoted corporate account manager Jeremy Cook to the position of new build senior manager, effective from 1 April.
For proof that the winds of change are blowing in favour of the intermediary, look to the distribution sector, where lenders have been asked to pitch their service and commercial propositions to win a spot on Openwork's network.
House prices grew by 2% between December and January, the biggest January monthly increase seen since 2009 (2.4%), according to the latest Halifax house price index.
Property prices in the North West saw a monthly price drop of 1.6% in December making it one of four regions in the UK to register a fall in housing values.
UK house price growth continued to slow in January, declining for the fifth month in a row, according to Nationwide's house price index.
Skipton has pulled its seven-year fixed rate range of mortgages from the market which brokers say indicates the need for more innovation in longer-term fixed rate products.
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