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They specialise in buy to let mortgage finance. Originally Sun Bank , it was purchased by the Portman Building Society in 2001 [ 2 ] and renamed to The Mortgage Works in 2004. [ 3 ] When Portman was merged with the Nationwide in 2007 [ 4 ] they continued to trade under a separate name as a subsidiary.
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As of 2022, Nationwide ranked as the second largest provider of household savings and mortgages in the UK, holding a 10.3% market share in current accounts. [ 1 ] : 15 For the financial year 2021/2022, Nationwide had assets of around £272.4 billion [ 1 ] : 57 compared to £483 billion for the entire building society sector, [ 5 ] making it ...
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Merger information presented to voters suggested that they should vote in favour of the proposed merger, advice in direct contrast to that expressed by the same Portman board before they had received Nationwide's incentive-laden offer. [6] The merger was overwhelmingly endorsed by members at the society's AGM on 23 April 2007.
Debbie Crosbie (born 30 March 1970) [1] is a British banker, and the chief executive of the Nationwide Building Society since June 2022. She was previously the CEO of TSB Bank from May 2019. [ 2 ]
UCBHL operated out of a single location in Sutton with over 300 employees, relocating to Bournemouth and merging with the Portman Building Society's The Mortgage Works in 2007 following Nationwide's merger with the Portman. [1] It ceased new lending on 31 October 2008, but continues to collect money from its customers.
Some of the Society’s first mortgages went to local co-operative societies to buy their own buildings. Mortgage Number 3, granted in June 1884, was given to the Hampton Co-operative Society to buy land worth £100. Mortgage number 10, granted in April 1885, went to the Ardsley Co-operative Society to buy a shop and bake house for £350.