Nationwide seeks to mitigate Brexit uncertainty with five point plan

John Hewitt Jones

August 3, 2016

Nationwide

Nationwide Building Society has launched a five point plan to help first-time buyers and regular savers navigate Brexit uncertainty.

The plan includes commitments to minimise costs for first-time buyers, maintain low deposit lending options, and protect rates on help to buy and save to buy products that encourage consumers to manage their finances wisely.

The building society has underlined its desire to get customers on the housing ladder, announcing a £10bn lending package for those looking to buy their first house.

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A Brexit consumer support group will also be established, combining Nationwide’s customer focus with representation from leading consumer bodies.

Nationwide’s chief executive, Joe Garner, said: “As a building society, we exist to help people into a home of their own and to help them manage their money and save for the future. Our mutual model means we’re able to plan and operate over the long-term.

“In an uncertain economic climate, I believe that responsible and progressive businesses need to do more to help people realise their ambitions. With this in mind, I wanted to set out our five-point plan for how we will stand by our members and customers in uncertain times and help ensure that economic uncertainty doesn’t get in the way of the ladder of opportunity.”

Nationwide Building Society was founded in 1846 and is the UK’s second largest mortgage and savings provider.