Bad mortgages bring Nationwide profits down

High street lender Nationwide has reported an 18% fall in profits in the past six months.

The building society made a before-tax profit of £322 million, compared to a £394 million profit last year.

Mortgages in arrears at Nationwide have risen from 0.36% in April to 0.40%. Bad credit mortgage and self certification mortgages make up a significant majority of the loans in arrears.

One Response to “Bad mortgages bring Nationwide profits down”

  1. Jacob Says:

    That is still a huge profit, and not a large number of defaulters. I wouldn’t complain…

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