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eek

Nationwide (not open) for Business

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I've just noticed on my linkedIn feed that Nationwide have binned their SME business bank which was supposed to be opening later this year and for which the BofE gave them £50m from RBS.

The purpose of the bank was to use the deposits from the business acconts to fund their mortgage lending so they will need to find another source for that.

 

 

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10 hours ago, leonardratso said:

you sure it wasnt to pay 1.2M to someone? and his cronies.

That is a few steps beyond the purpose of this bank which was to find another source of deposits.

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Theres quite a lot of news noise on nationwide - CEO taking a pay ct, plans being shelved, etc etc.

Going by the ther lending over the last 10 yaes, I think they are in trouble.

I think Nationwide now agree with that.

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No one on here mention the 0.7% Nationwide April month on month rise yet?

Lockdown, killer global virus pandemics and economic turmoil obviously equals house price increase of course! All this even though sales/completion are at a standstill.

3.7% annual increase - whoop yeah! High fives all round. Que the ‘This is Money’ boomers calling out the naysayers. Bricks and mortar only ever up snowflakes.

Let’s see how more desperate the likes of Halifax and Nationwide get to fudge the numbers for the rest of the year.

 

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7 hours ago, Sideysid said:

No one on here mention the 0.7% Nationwide April month on month rise yet?

Lockdown, killer global virus pandemics and economic turmoil obviously equals house price increase of course! All this even though sales/completion are at a standstill.

3.7% annual increase - whoop yeah! High fives all round. Que the ‘This is Money’ boomers calling out the naysayers. Bricks and mortar only ever up snowflakes.

Let’s see how more desperate the likes of Halifax and Nationwide get to fudge the numbers for the rest of the year.

 

They pick good numbers, use them for the monthly figures. Then revise down later. Its bollocks and news org need to stop using .nW n Hfux monthly numbers.

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On 07/04/2020 at 10:17, spygirl said:

Theres quite a lot of news noise on nationwide - CEO taking a pay ct, plans being shelved, etc etc.

Going by the ther lending over the last 10 yaes, I think they are in trouble.

I think Nationwide now agree with that.

It's a lot more than NW.Coventry face some testing times,especially given theyve been bankrolling a fair chunk of the BTL market.Great business really,get moeny from people who want to buy a hosue and then lend it to a BTLer to price them out.

gonna be epic watching the chickens flying home(not on BA natch)

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8 hours ago, Sideysid said:

No one on here mention the 0.7% Nationwide April month on month rise yet?

Lockdown, killer global virus pandemics and economic turmoil obviously equals house price increase of course! All this even though sales/completion are at a standstill.

3.7% annual increase - whoop yeah! High fives all round. Que the ‘This is Money’ boomers calling out the naysayers. Bricks and mortar only ever up snowflakes.

Let’s see how more desperate the likes of Halifax and Nationwide get to fudge the numbers for the rest of the year.

 

They will go down for sure but to many will wait to long expecting even bigger drops greed works both ways 

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