London Daily

Focus on the big picture.
Wednesday, Oct 22, 2025

Nationwide to hand back £100 to 3.4 million members

Nationwide to hand back £100 to 3.4 million members

NATIONWIDE today unveiled plans to return £340 million direct to members as new chief executive Debbie Crosbie pledged her commitment to the mutual status that has seen the group thrive.
Crosbie, formerly of Clydesdale and TSB, is launching an annual “Fairer Share” deal that will see 3.4 million members with current accounts get £100 each.

Members will also be offered a two-year savings bonds that pays a 4.75% interest rate.

Annual profits rocketed 40% to £2.22 billion, a record, that comes on the back of rising interest rates that increase the gap between savings and loan rates.

Crosbie said it is “a joy to be part of an organisation that is mutual”.

“I am firmly committed and believe there is no more relevant time to be a mutual. There is no way the banks can compete with us in the value we are returning to members,” she added.

Crosbie admits members might come to expect a pay out each year, even when the society has not done so well.

“We understand that there is an expectation now, but we want to do it every year,” she said.

The money will be paid direct into accounts next month.

John Lewis, a partnership structured in a similar way, has had to suspend its bonus payments to staff while the business struggles.

Nationwide’s share of the mortgage market has fallen from 11.8% to 10.8%, a sign that rivals have offered deals the society thinks are unsustainable.

There is little chance of Nationwide copying Skipton with a 100% mortgage deal, it admits.

“The market is very competitive,” said Crosbie. “We have chosen not to take a lot of volume.”

Deposits rose by £9 billion to £187 billion at a time when the big banks have reported outflows.

Only 1.21% of customers are more than three months behind on mortgage payments, though that is up a little on a year ago.

It set aside £126 million to cover bad loans.

Nationwide thinks house prices will be “subdued” this year.

Samuel Mather-Holgate of Mather & Murray Financial said:" It’s no surprise that their credit impairment charges are low, but even Nationwide say they expect this to increase this year. Nationwide’s share of the pie remained similar to the previous year, but net lending was down nearly 10% showing an overall decline in confidence in the housing market that is unlikely to return until rates start getting slashed later this year. Overall, these results seem very positive for a lender that will be thankful of their policy to exclude those most vulnerable to economic shocks."

Graham Cox, founder of SelfEmployedMortgageHub.com said: "Nationwide’s preliminary results highlight how fundamentally the mortgage market has changed in the last year. Net lending is less than half what it was in the previous year, illustrating just how much demand has slowed as interest rates have risen.”
Newsletter

Related Articles

0:00
0:00
Close
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Nicolas Sarkozy begins five-year prison term at La Santé in Paris
Japan stocks surge to record as Sanae Takaichi becomes Prime Minister
This Is How the 'Heist of the Century' Was Carried Out at the Louvre in Seven Minutes: France Humiliated as Crown with 2,000 Diamonds Vanishes
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
Windows’ Own ‘Siri’ Has Arrived: You Can Now Talk to Your Computer
Thailand and Singapore Investigate Cambodian-Based Prince Group as U.S. and U.K. Sanctions Unfold
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Chinese Tech Giants Halt Stablecoin Launches After Beijing’s Regulatory Intervention
Manhattan Jury Holds BNP Paribas Liable for Enabling Sudanese Government Abuses
Trump Orders Immediate Release of Former Congressman George Santos After Commuting Prison Sentence
S&P Downgrades France’s Credit Rating, Citing Soaring Debt and Political Instability
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
Diane Keaton’s Cause of Death Revealed as Pneumonia, Family Confirms
Former Lostprophets Frontman Ian Watkins Stabbed to Death in British Prison
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Outsider, Heroine, Trailblazer: Diane Keaton Was Always a Little Strange — and Forever One of a Kind
Dramatic Development in the Death of 'Mango' Founder: Billionaire's Son Suspected of Murder
Two Years of Darkness: The Harrowing Testimonies of Israeli Hostages Emerging From Gaza Captivity
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
HSBC Confronts Strategic Crossroads as NAB Seeks Only Retail Arm in Australia Exit
U.S. Chamber Sues Trump Over $100,000 H-1B Visa Fee
Shenzhen Expo Spotlights China’s Quantum Step in Semiconductor Self-Reliance
China Accelerates to the Forefront in Global Nuclear Fusion Race
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
Surging AI Startup Valuations Fuel Bubble Concerns Among Top Investors
Australian Punter Archie Wilson Tears Up During Nebraska Press Conference, Sparking Conversation on Male Vulnerability
Australia Confirms U.S. Access to Upgraded Submarine Shipyard Under AUKUS Deal
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
Brands Confront New Dilemma as Extremists Adopt Fashion Labels
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Erika Kirk Delivers Moving Tribute at White House as Trump Awards Charlie Presidential Medal of Freedom
British Food Influencer ‘Big John’ Detained in Australia After Visa Dispute
ScamBodia: The Chinese Fraud Empire Shielded by Cambodia’s Ruling Elite
French PM Suspends Macron’s Pension Reform Until After 2027 in Bid to Stabilize Government
Orange, Bouygues and Free Make €17 Billion Bid for Drahi’s Altice France Telecom Assets
Dutch Government Seizes Chipmaker After U.S. Presses for Removal of Chinese CEO
Bessent Accuses China of Dragging Down Global Economy Amid New Trade Curbs
U.S. Revokes Visas of Foreign Nationals Who ‘Celebrated’ Charlie Kirk’s Assassination
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
×