Nationwide, Santander, TSB and Virgin Money probed over ‘measly’ savings rates May 10, 2023 An influential parliamentary body has expanded its inquiry into the low savings rates paid by the UK’s retail banks, describing the current rates on offer as “measly”. Having investigated the UK’s four largest retail banks, MPs at the Treasury Committee have now sent letters to Nationwide, Santander, TSB and Virgin Money. These lenders account for [...]
Barratt ‘on track’ but forward sales slow amid house price concerns May 3, 2023 Barratt Developments has assured investors that it is “on track” for the year despite revealing a decline in forward sales, however the group’s share price tumbled 0.32 per cent when markets opened. In a trading update this morning the London-listed house builder noted that the economic outlook remained “difficult” as it posted total forward sales [...]
Dating, DIY and Netflix: Brits stop spending on love and luxury due to cost of living crisis, Nationwide says March 24, 2023 The value of households’ spending on subscription services, home improvements and dating fell annually in February, according to analysis by Britain’s biggest building society of its members’ outgoings. The volume of dating transactions fell by a third (33 per cent ) in February 2023 compared with the same month in 2022, also falling by 7 [...]
Five best read on City A.M.: EY ‘business as normal’, 1,300 Lloyds Pharmacies up for closure, Cameron Smith, F1 ‘marriage’ on the rocks and crypto ban March 10, 2023 EY’s decision to push ahead with mid-year promotions after KPMG called off its April round was this week’s best read story on City A.M. It had some stiff competition with sporting heroes Cameron Smith and Lewis Hamilton vying for readers’ interest, not to mention news of a crypto ban and high street closures. We look [...]
Crypto: Nationwide bans credit card exchange payments and HSBC limits digital currency spending as consumer risk fears grow March 3, 2023 Several UK banks have restricted their customers from buying crypto assets as concern grows about the risks posed by digital currency to customers. In an email to customers earlier this week, Nationwide said it would not allow payments to crypto exchanges using its credit cards and would impose a £5,000 daily limit on current account [...]
Nationwide, Virgin Money and TSB rapped by Which? for leaving website and app ‘doors open’ to scammers February 7, 2023 Websites and apps used by customers of some of the UK’s largest banks are missing crucial security protections, potentially leaving “open doors” for scammers, consumer group Which? has claimed. Which? tested the customer-facing security systems of 13 current account providers from September to November 2022, with help from security experts at Red Maple Technologies. Account [...]
Number of cash withdrawals in the UK rises for first time in 13 years January 11, 2023 Cash usage increased for the first time in 13 years in 2022, according to fresh data from Nationwide, as Brits responded to the cost-of-living crisis by budgeting with physical money. “For the first time in years we are seeing a natural rise in cash withdrawals as people return to using cash to help avoid getting [...]
House price growth falls for fourth consecutive month, worst run since 2008 December 30, 2022 House prices have plummeted for the fourth consecutive month by 2.8 per cent in December, the worst run since the financial crisis of 2008. Nationwide’s latest House Price Index shows this month proved to be another sharp slow down in growth down from 4.4 per cent in November. House prices fell by 0.1 per cent [...]
Busiest Black Friday on record as Brits make the most of sales in cost of living crisis November 26, 2022 This year’s Black Friday was the busiest on record, as Brits look to make the most of deals amid the cost of living crisis. The number of purchases jumped on Friday, up 10 per cent in comparison with last year, according to data from Nationwide today. The rate of spending has risen more than a [...]
Nationwide’s incomes boosted by higher interest rates November 18, 2022 Nationwide Building Society today posted a more than 13 per cent uptick in its underlying profits after its incomes were boosted by higher interest rates. The Swindon headquartered building society saw its pre-tax profits for the six months ending on 30 September 2022 increase 13.6 per cent to 969m. The uptick came as Nationwide’s net [...]