Nationwide issues NEW update over £100 free bonus payments to customers

The high street bank, which is the largest building society in the UK, has shared a fresh update over paying out bonuses each summer to its customers.

Nationwide has issued a NEW update over free £100 bonus payments to its members. The high street bank, which is the largest building society in the UK, has shared a fresh update over paying out bonuses each summer to its customers.

In a new email to customers, Nationwide says it will be revamping its popular and widely-used service MyNationwide, boasting "all the helpful tips and information you are used to, but with a fresh new look."

It says: "We're owned by our members, not shareholders. That means we can put you first in a way that other major banking providers can't." Nationwide has rewarded members with a £100 Fairer Share Payment for the past two years, the building society added.

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It explains: "At Nationwide we don't just have customers, we have members. And membership means sharing in our profits through the Nationwide Fairer Share Payment. This year, we're sharing our profits with nearly 4 million of our members. The Fairer Share Payment is our way of rewarding those members who choose us for their everyday banking as well as having savings or a mortgage with us."

Members will need a qualifying current account plus either qualifying savings or a qualifying mortgage. It comes after Nationwide explained its subsidiary The Mortgage Works has found landlords can boost the price of their properties and see growth in rental income through green retrofitting.

Dan Clinton, Head of Buy to Let at The Mortgage Works, comments, “Our analysis shows there can be long-term gain with green retrofitting through increased property value and improved rental yields. But it will be a hard slog for many landlords to meet this ambitious timeline to bring their homes up to spec, particularly those who have had to absorb higher mortgage rates and bigger tax bills in recent times.

“We need government to step up and provide the necessary support for landlords if they expect that change to happen. As history shows us, positive change can be painstakingly slow when there are a lack of incentives. Alongside this, there needs to be an effective framework for energy efficiency including clarity around the future of EPCs, information on energy efficiency improvements and skills training to ensure there is a workforce able to deliver green improvements at scale.”