May 2023 – It must be getting near to AGM time again. Nationwide Building Society is indulging in another great publicity spending spree with double page advertisements in national newspapers. The ads say they are sharing their profits with members, unlike banks. They have dubbed it – “The Nationwide Fairer Share”. What they don’t say…
Category: News
February 2023 – Following the slow and painful decline of the Manchester BS the go-ahead has been given by the PRA and the FCA for the Newcastle BS to takeover the Manchester without the involvement of the members (that’s the people they still term the “owners”) of either society. It has been a very drawn-out death for…
June 2022 – Jeff Prestridge the Mail on Sunday Personal Finance Editor comments on the excessive amount of members’ money being taken by the directors of this building society while interest rates for members’ savings accounts are among the lowest in the country. The chief executive, Joe Garner, increased his take by 71% over the previous…
April 2022 – The Financial Mail on Sunday reports on the enormous pay increases that the directors of building societies are awarding themselves while savings interest rates for members are pathetic. The greed was led by the CEO of the Skipton Building Society with an increase of 103% over the previous year. Financial Mail on…
March 2022 – It’s AGM time again. Time for the annual insults to be sent out to members of building societies. The insults being the biased voting papers with the “Quick Vote” option being the dominant feature on the ballot paper – where you are required to place your cross and not read anything else…
January 2022 – The Financial Mail on Sunday reports that this building society that makes regular claims to be open, honest and transaparent, has been holding secretly talks with with a view to the take over of a bank – TSB. This is reported to have been a resumption of talks first begun in 2020. And…
January 2022 – The Bank of England raised interest rates last month so building societies are busy increasing mortgage rates, with Nationwide revealing a raft of rises this week. But while Britain’s biggest society has been quick off the mark with mortgage rate rises its savings rates remain low as is their custom. Thisismoney reports –…
January 2022 – Nationwide Building Society has taken the lead for mortgage rate rises on more than half of its mortgages in response to the base rate rise, with some products going up by three times the 0.15 per cent bank rate increase. Nationwide has increased rates on 238 mortgages with rises of between 0.05…
November 2021 – This so-called mutual society has announced a massive cut in their regular saver interest rates from 1.80% to 1.05%. That is a whopping 42% cut. This is just as the Bank rate is about to increase along with inflation. No proper reason has been given to account holders for such a big…
July 2021 – Manchester Building Society has finally won its case against Grant Thornton after pursing the firm through the lower court and the court of appeal. However damages awarded, amounting to £13.4m, are just over a third of the claim made by the society. The case related to audit services provided by Grant Thornton…