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Nationwide Redundancies - Low interests rates implied in the decision


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https://www.swindonadvertiser.co.uk/news/18586023.jobs-go-nationwide-profits-plunge-pandemic/?fbclid=IwAR1iAFBFxoLtCQbKnJAcN_g9x8SXQ3khwGg1o6udMTV5LMuzlEYk2FtRE5Y

First time I've seen low interest rates blamed (at least partially) for the impact on the wider economy?

 

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We continue to review our organisation shape in the context of historically-low interest rates and the impact of coronavirus, which is sadly resulting in redundancies.

 

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Yeah. Theres been something afoot at NW for the last year.

Its not just low IRs.

I think theyve got a bad lending chickens roosting.

They were one of the main HTB lenders too.

 

 

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18 minutes ago, spyguy said:

Yeah. Theres been something afoot at NW for the last year.

Its not just low IRs.

I think theyve got a bad lending chickens roosting.

They were one of the main HTB lenders too.

 

 

? Ah, the lovely caring Nationwide. There for it's members, and for those wanting to get on the ladder, I am tearful at their impending collapse.

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12 minutes ago, astrid said:

If Nationwide go down will this not cause other lenders to get spooked and potentially cause them to tighten their lending criteria?

Lending criteria is already tightening up. Other lenders know as much about NW as we do, so not going to affect them.

Low IR reduce the spread that lenders can charge, hence the reference to problems it is causing.

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  • 419 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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