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.
The success of the Help to Buy equity loan scheme has created building completion delays and caused mortgage offers to expire, Nationwide has warned.
As Nationwide returns to offer new-build Help to Buy mortgages to home movers, James Chidgey, senior manager of new build at the mutual, looks at the outlook for the market.
Nationwide has removed all sales targets and reduced bonus opportunities for employees, in order to focus more on performance management.
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Mortgage market commentators have suggested gross lending levels will breach £200bn in 2014 however cautioned against spectacular increases throughout 2015.
The UK's current economic performance puts us in a 'sweet spot' claimed Nationwide's senior economic analyst, Stefano Silvestrin.
Smaller lenders are unable to increase residential procuration fees unless the bigger players make the first move, Precise Mortgages managing director Alan Cleary has said.
House prices will be driven even higher if strong growth in the labour market continues, Nationwide’s senior economist Stefano Silvestrin has warned.
Lenders ranking outside the top 20 market leaders in 2013 have seen their total market share grow by 7% over the last two years while the big six players' tight grip on mortgage lending eased back.
In yet another market boosting move, Nationwide Building Society is resuming access for home movers keen to use the Government's Help to Buy equity loan scheme from tomorrow (24 September).
The Financial Services Expo has sold out its exhibition space and is expecting a 15% increase in visitors against last year.
Accord has launched a 10-day sale on its residential mortgage products with rate cuts up to 0.25% on applications up to 75% loan-to-value (LTV).
Leeds Building Society and Halifax have launched five-year fixed rate mortgages for buy-to-let, home mover and first-time buyer borrowers.
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