BRITAIN'S BIGGEST building society, Nationwide, is considering offering mortgages to people with credit problems as part of a planned push aimed at regaining its position of strength in the home loans market, reports the Guardian.
Announcing its results for the year to April 4, Nationwide said yesterday its net mortgage lending fell to £6.3bn from £10.9bn a year earlier, the paper says. The society said it had deliberately written less mortgage business last year because it had been worried about the housing market - though it conceded the market had turned out "more benign" than some had feared. Its share of new mortgage business fell to below 7% from its traditional 9%, but the society said it planned to return to that level this year. Stuart Bernau, its commercial and communications director, said its UCB Hom...
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