16 May 09 - 19:59Journalists wrong to criticise Nationwide
It's unfair to see the recent criticism of the Nationwide Building Society's changes to its mortgage rates.Yes, it's unfortunate that the Nationwide will no longer be putting new borrowers on it's existing Base Mortgage Rate (BMR), currently at 2.5% - but let's face it, the Nationwide has been pushing harder than any other mortgage lender to continue to provide mortgages to the market.
And no other mortgage lender was even coming close to beating Nationwide's BMR.
Despite the fact that the Royal Bank of Scotland, Halifax, Bank of Scotlant, and Loyds TSB, all have direct government support through part-privatisation.
This is not least receiving government money with the aim of improving lending to to mortgage and loans market. ... (more)
