News Article
House prices rose by a modest 0.4% in December but overall have been essentially unchanged for the full year of 2010. Follow the link below to find out more and download the full reports for December and Q4 2010.
With effect from Friday 17 December, Nationwide For Intermediaries will be withdrawing our Guarantor mortgage facility. Our product codes will also be updated. Applications for Guarantor Mortgages after this date should be through our specialist lending subsidiary, The Mortgage Works.
House prices fell by 0.3% in November with prices nearly unchanged from a year earlier.
House prices fell by 0.7% in October with the three month rate of decline accelerating to 1.5%, thought that further quantitative easing could boost the housing market.
House prices edged up a marginal 0.1% in September with three month rate of change turning negative for first time since May 2009 and mixed news from the labour market.
With effect from 24 September 2010, we will be reducing all House Purchase and Remortgage fixed rates above 70% LTV by up to 0.30%, repricing all 2 and 3 year tracker products and removing the product fee (booking fee still applies) on all 3 and 5 year Remortgage products.
NFI Online is the new mortgage application system from Nationwide For Intermediaries, designed to help you manage your workloads and stay in control, it offers a range of benefits designed to save you time and make case submission easier. We're confident you’ll be over the moon with NFI Online - so try it today!
With effect from Thursday, 19 August 2010, we will only be able to accept applications for subsequent Additional Borrowing if the customer's main Nationwide mortgage account has been open for six months or longer.
Every month, we like to update you on our latest service levels. Follow the link below to see how quickly we're processing your cases and find out about changes to our lending criteria for Equity Share applications and Transfer of Equity process.
With effect from 5th July all new MTE or Paper only business submitted to our Glasgow Service Centre will be transferred to our Northampton dedicated intermediary site. For all pipeline business, large loan enquiries /applications and sending outstanding items or proofs, you should continue to use Glasgow.
From 11 June we'll be simplifying our product range and lending limits. This change is part of NFI's commitment to offering a straightforward range of mortgages, making it easier for your clients to understand the options available to them. We will also be reducing rates by up to 0.96% on selected products.
With effect from 21st June our Newcastle Service Centre will no longer accept new applications. If Newcastle is your current service centre you should start to send all new applications to the Northampton Service Centre from the 21st June. All pipeline business, including any outstanding items or proofs should continue to be sent to Newcastle.
With effect from 14th June our Birmingham Service Centre will no longer accept new applications. If Birmingham is your current service centre you should start to send all new applications to the Northampton Service Centre from the 14th June. All pipeline business, including any outstanding items or proofs should continue to be sent to Birmingham.
On 25th March 2010 Nationwide issued a proposal to move the processing of all intermediary mortgage cases to 2 dedicated mortgage service centres. This would result in the closure of our service centres in Birmingham, Chester, Doncaster and Newcastle.
From 4th May 2010 we will be making a number of enhancements to our Maintenance Income criteria that may benefit your clients, including changes to the number of months that Maintenance must have been received before it can be used as income and the acceptability of Maintenance payments received under a written private agreement.
Giving you the best possible service is our top priority. We're sending you a snapshot of our current service levels, so you can see just how quickly we're processing your cases.
We have listened to your feedback and have reviewed our product range. From 4 March 2010 we'll be withdrawing House Purchase and First Time Buyer products with Free Legal Fees. To support first time buyers we still offer a range of products with a reduced product fee of £495.
House prices fell by 1.0% month-on-month in February, although the price decline may be explained by snowy weather and expiry of stamp duty holiday. It's too early to say whether February's drop is just a temporary blip or the start of a new trend.
House prices made a strong start to 2010, rising by 1.2% in January and, up 8.6% year-on-year. Recent economic data has been a mixed bag for the housing market, and inflation uncertainties highlight interest rate risk.
From today we'll be making some positive changes to our ID requirements. We'll no longer need the paper counterpart to new style driving licences, and we're accepting UK National ID cards as proof of name. The changes detailed are designed to make it easier for you to submit applications to us.
The way our mortgage valuation transcription process works is changing with immediate effect, meaning we will no longer be able to accept transcriptions of valuation reports except for certain types of mortgages in Scotland.
Please be advised that with effect from 1 January 2011, our Mortgage Payment Protection Insurance (MPPI) provider will be changing to Pinnacle Insurance PLC. If you have any queries, please call our Sales Support team on 0845 601 0763 or contact your BDM.
Throughout 2010 we've kept you updated on our service levels each month, alongside sending you our latest tips and criteria information. We hope you've found this useful. Follow the link below to see the last service update for this year.
Every month, we like to update you on our latest service levels for average application to offer and valuations received within 5 days. Follow the link below to find out how quickly we're processing your cases.
We're continually reviewing our processes to ensure that we provide you with the best possible level of service. With effect from 5 October 2010, we'll be making some changes to our DIP processing. All paper DIPs should now be submitted to our Northampton Service Centre.
On Saturday 25 September, we'll be making some changes to our secure email system to provide you with a greater level of service. As part of this upgrade, we'll be reducing the number of emails you'll need to access through the secure email system.
House prices fell by 0.9% in August, with a three month rate of change showing price stagnation over the summer, in addition the percentage of borrowers on variable rates has increased.
With effect from 20 August 2010 all 2, 3 and 5 year fixed rate Remortgage products will be reduced, all 3 year tracker Remortgage products with £995 fee are also reduced. In addition selected Additional Borrowing products will be reduced by 0.20%.
With effect from 6 August 2010, we will be making various changes to our product range including reductions of up to 0.30% across our Home Buyer, Remortgage and Further Advance ranges, Home Buyer 3 year tracker increased by 0.09% at selected LTV tiers and reduced by up to 0.21% at other tiers.
The price of a typical UK property inched up by 0.1% in June 2010, with the annual rate of house price inflation dropping from 9.8% to 8.7% and the announcement of a budget with mixed implications for the housing market.
Giving you the best possible service is our top priority. We're sending you a snapshot of our current service levels, so you can see just how quickly we're processing your cases.
Time is running out to guarantee your place in the Nationwide For Intermediaries World Fantasy Football League. Creating a team automatically enters you in the competition for a fantastic luxury trip for 2 to South Africa, with other exciting prizes available for our runner ups.
House prices increased by 0.5% month-on-month in May, with the Annual rate of house price inflation dropping from 10.5% to 9.8% but prices overall are up 12.2% since the February 2009 trough.
From 25 May 2010 we will be reducing rates across our range of 5 year fixed rate mortgages for home buyer and remortgage customers. In addition to reduced rates, first time buyers can also benefit from a further £500 product fee discount on our improved range.
We are pleased to announce that from 11 May 2010 we will be reducing rates on selected fixed and tracker products by up to 0.60%. We will also be increasing the maximum LTV for remortgage clients with tracker products now available up to 85%.
House prices increased by 1.0% month-on-month in April, with the annual rate of price inflation moving in to double digits for first time since June 2007, and house prices are now 10.0% below the October 2007 peak.
Further to the recent changes to our affordability criteria, we are pleased to announce that we will now accept the following forms of tax credit and allowances as income: Working tax credit, Child tax credit, Child benefit and Pension credit.
From 4 March 2010 we will be making changes to how we calculate the amount that your client can borrow, taking a more personalised approach to assessing the amount we will lend. We'll also be making changes to mortgages into retirement, flexible features and renaming the reservation fee to product fee.
From 9 February 2010 we'll be amending the LTV tiers on a selection of mortgages, making our lowest rate on all mortgages, for all borrower types, now available up to 70% LTV. We'll also be reducing our 1 year fixed rate by 0.20% to 3.49% for all purchase clients up to 75% LTV.
We regret to inform you that from today your Nationwide For Intermediaries Business Development Manager, Tom Bolton, will be on compassionate leave for the forseeable future. Until Tom returns please direct any queries you may have to the BDMs listed in the link below who will be delighted to help you further.
Knowing how long it'll take us to process your cases is an important piece of information for you and your clients. For the second month running it took Nationwide just 9 days to get a case from application to offer.
From 8 January 2010 we'll be making it more affordable for first time buyers and anyone moving home with smaller deposits to take out a Nationwide mortgage, by reducing selected fixed and tracker rates by up to 0.60%.