Latest news with #NationwideBuildingSociety
South Wales Argus
a day ago
- Business
- South Wales Argus
Nationwide customers angry at 'controversial' decision
Three years after taking over as the chief executive of Nationwide Building Society, Ms Crosbie has received a 43 per cent increase to her maximum pay package, worth up to £7m per year. 'The truth is that mutuals have often been seen as niche: a 'nice to have but not essential',' says Peter Hunt, the founder of UK-based mutuals consultancy Mutuo. If you are a member of Nationwide Building Society please consider voting against CEO Pay Pay of all directors Don't re-elect any director as they all have their snouts in the trough. Cast you own vote. Don't give proxy votes to directors. 👎👎👎👎 — Prem Sikka (@premnsikka) June 18, 2025 'Nationwide is a domestically systemic banking institution,' the Building Societies Association (BSA) chief executive, Robin Fieth, said this weekend. 'It gives scale and importance to the whole of our sector.' James Sherwin-Smith, a longtime Nationwide customer, told the Guardian that Nationwide has been 'debasing … member rights … despite all the lovely positive PR that Nationwide puts out about having your say, and that they're a beacon for mutual good. "When I scratch the surface of that, I do not find substance.' Recommended reading: Edwin Fisher of the Building Societies Members Association said Nationwide is the 'most controversial, and has, in our opinion, the lowest standards of corporate governance'. 'They regularly churn out the line that members are the owners, but we all know that members have no say in anything,' he said. 'From the extensive engagement that we have with our members, we cannot see any evidence that our leading customer service, support for first-time buyers, growing market shares and record member financial value is in any way controversial,' Nationwide said.
Time of India
2 days ago
- Business
- Time of India
Asking prices of properties in UK fall in July: Rightmove
LONDON : Asking prices for newly advertised British houses and apartments recorded their biggest July fall in more than 20 years this month, property site Rightmove said on Monday. Prices for property put on sale during Rightmove's July period - which runs from June 8 to July 12 - were 1.2% lower than for property marketed a month earlier, the biggest June to July drop since the series began in late 2001. Compared with a year ago, asking prices were 0.1% higher. "With the number of available homes still at a decade-high level, summer sellers are pricing even more competitively to attract buyer interest," Rightmove said. British property sales surged earlier this year but then fell sharply after the end of a temporary tax break on many purchases in April. "Discerning buyers can quickly spot when a home looks over-priced compared to the many others that may be available in their area," Rightmove property expert Colleen Babcock said. While sales volumes are still running at around 5% above 2024 levels, Rightmove said it was cutting its forecast for price rises over 2025 as a whole to 2% from 4% due to the high level of competition between sellers. Overall, Rightmove expects 1.15 million property sales in 2025. Prices fell most in inner London, which saw a 2.1% monthly drop, while the biggest rise was in northeast England where there was a 1.2% rise. Earlier this month Nationwide Building Society, Britain's second-biggest mortgage lender, said its house price index dropped by 0.8% in June, the biggest seasonally adjusted monthly fall since November 2022. Official data, which is based on completed purchases, showed that house prices in May were 3.9% higher than a year earlier, down sharply from annual growth of 7.0% in March. Rightmove said smaller price rises, combined with strong pay growth and lower mortgage rates, were making property purchases more affordable. Typical mortgage rates for a two-year fixed period have dropped to 4.53% from 5.34% over the past year, while average wages rose 5.0% in the year to May.
Leader Live
2 days ago
- Business
- Leader Live
Nationwide customers angry at 'controversial' decision
Three years after taking over as the chief executive of Nationwide Building Society, Ms Crosbie has received a 43 per cent increase to her maximum pay package, worth up to £7m per year. 'The truth is that mutuals have often been seen as niche: a 'nice to have but not essential',' says Peter Hunt, the founder of UK-based mutuals consultancy Mutuo. If you are a member of Nationwide Building Society please consider voting against CEO Pay Pay of all directors Don't re-elect any director as they all have their snouts in the trough. Cast you own vote. Don't give proxy votes to directors. 👎👎👎👎 'Nationwide is a domestically systemic banking institution,' the Building Societies Association (BSA) chief executive, Robin Fieth, said this weekend. 'It gives scale and importance to the whole of our sector.' James Sherwin-Smith, a longtime Nationwide customer, told the Guardian that Nationwide has been 'debasing … member rights … despite all the lovely positive PR that Nationwide puts out about having your say, and that they're a beacon for mutual good. "When I scratch the surface of that, I do not find substance.' Recommended reading: Edwin Fisher of the Building Societies Members Association said Nationwide is the 'most controversial, and has, in our opinion, the lowest standards of corporate governance'. 'They regularly churn out the line that members are the owners, but we all know that members have no say in anything,' he said. 'From the extensive engagement that we have with our members, we cannot see any evidence that our leading customer service, support for first-time buyers, growing market shares and record member financial value is in any way controversial,' Nationwide said.
South Wales Guardian
2 days ago
- Business
- South Wales Guardian
Nationwide customers angry at 'controversial' decision
Three years after taking over as the chief executive of Nationwide Building Society, Ms Crosbie has received a 43 per cent increase to her maximum pay package, worth up to £7m per year. 'The truth is that mutuals have often been seen as niche: a 'nice to have but not essential',' says Peter Hunt, the founder of UK-based mutuals consultancy Mutuo. If you are a member of Nationwide Building Society please consider voting against CEO Pay Pay of all directors Don't re-elect any director as they all have their snouts in the trough. Cast you own vote. Don't give proxy votes to directors. 👎👎👎👎 'Nationwide is a domestically systemic banking institution,' the Building Societies Association (BSA) chief executive, Robin Fieth, said this weekend. 'It gives scale and importance to the whole of our sector.' James Sherwin-Smith, a longtime Nationwide customer, told the Guardian that Nationwide has been 'debasing … member rights … despite all the lovely positive PR that Nationwide puts out about having your say, and that they're a beacon for mutual good. "When I scratch the surface of that, I do not find substance.' Recommended reading: Edwin Fisher of the Building Societies Members Association said Nationwide is the 'most controversial, and has, in our opinion, the lowest standards of corporate governance'. 'They regularly churn out the line that members are the owners, but we all know that members have no say in anything,' he said. 'From the extensive engagement that we have with our members, we cannot see any evidence that our leading customer service, support for first-time buyers, growing market shares and record member financial value is in any way controversial,' Nationwide said.
Zawya
2 days ago
- Business
- Zawya
Rightmove reports record fall in July UK property prices
LONDON: Asking prices for newly advertised British houses and apartments recorded their biggest July fall in more than 20 years this month, property site Rightmove said on Monday. Prices for property put on sale during Rightmove's July period - which runs from June 8 to July 12 - were 1.2% lower than for property marketed a month earlier, the biggest June to July drop since the series began in late 2001. Compared with a year ago, asking prices were 0.1% higher. "With the number of available homes still at a decade-high level, summer sellers are pricing even more competitively to attract buyer interest," Rightmove said. British property sales surged earlier this year but then fell sharply after the end of a temporary tax break on many purchases in April. "Discerning buyers can quickly spot when a home looks over-priced compared to the many others that may be available in their area," Rightmove property expert Colleen Babcock said. While sales volumes are still running at around 5% above 2024 levels, Rightmove said it was cutting its forecast for price rises over 2025 as a whole to 2% from 4% due to the high level of competition between sellers. Overall, Rightmove expects 1.15 million property sales in 2025. Prices fell most in inner London, which saw a 2.1% monthly drop, while the biggest rise was in northeast England where there was a 1.2% rise. Earlier this month Nationwide Building Society, Britain's second-biggest mortgage lender, said its house price index dropped by 0.8% in June, the biggest seasonally adjusted monthly fall since November 2022. Official data, which is based on completed purchases, showed that house prices in May were 3.9% higher than a year earlier, down sharply from annual growth of 7.0% in March. Rightmove said smaller price rises, combined with strong pay growth and lower mortgage rates, were making property purchases more affordable. Typical mortgage rates for a two-year fixed period have dropped to 4.53% from 5.34% over the past year, while average wages rose 5.0% in the year to May. (Reporting by David Milliken; editing by Suban Abdulla)
