Newest Review: ... from Nationwide and a subsequent phone call a few weeks later that if I didn't make arrangements for paying off the balance they would auto... more
Good, efficient and trustworthy mortgage service and insurance
Nationwide Building Society
Author Name: Fionna O'Leary
Nationwide Building Society
Advantages: V good mortgage service...and post mortgage support
Disadvantages: Maybe an improvement in the telephone banking support
I took out a 10 year fixed rate mortgage with nationwide just over 6 years ago. The offer process was quick and efficient, as was the final completion process. I took out mortgage protection ...2 year cover just to be on the safe side.
2 years ago I became quite ill so worried about my ability to pay my mortgage. By then I had forgotten I had cover. However when I discussed my options with them they reminded me of the cover and have been truly terrific right the way through both in their manner and practical support. I do not know what I would have done without it and them and feel I should place this review to offset some of the negative ones. With the help of the protection policy i did not miss a single payment. Since then i have been able to pay off a large chunk of my mortgage so repaying their support. The key thing is to think ahead and DO take out full insurance. Do NOT bury your head in the sand if you meet difficulty but contact them as soon as possible to work out a way forward. I think it helped that I have developed a good credit history over the years, do not miss payments, and made it clear that if there was no other way I would sell my home. However they have gone out of their way to help me keep it.
I am moving my bank accounts to them now as I am very tired of the greed and quite disproportionate reward and bonus systems and this attitude of entitlement that senior bankers and investment staff seem to have in this time of constraint. If Nationwide offer a poor service I shall move again but at least it is a mutual so I can get involved in the key decisions of the organisation.
Financial institutions should remember that it is our money they are gambling with ... We need to be able to trust them. We need to get more involved. It maybe a foreign concept to many in the industry but given their status and the role they play in both our personal money and the stability of the economy I think that it is reasonable to expect some ethical and moral leadership from them particularly in these difficult times...and support. I would like a clear and practically demonstrated sense that top bankers will truly invest in a good, stable, ethical and decent future for their customers and citizens of the countries in which they operate, not simply rhetoric.
It isn't just Barclays. It seems to be a banking deep seated culture, so deep they have no idea how pathetic they sound when they bang on about how they should be entitled to keep their massive bonuses when so many others are suffering who actually supply them with money.
Summary: Good mortgage service for customers