Nationwide results give rise to new hope for credit market

Posted in 'Mortgages' by Barry Stamp

23 November 2011

Nationwide painted a rosy and improving picture yesterday when it presented its annual results, with significant increases in mortgage lending, personal loans, current account and credit cards.

These latest figures are encouraging and indicate that although mortgage lending and credit generally has been tightened considerably recently, there is still appetite to lend money and good deals to be had.

Nationwide sounded some warnings in amongst the good news. Its business loan operation, UCB, increased its bad debts slightly, and the Chief Executive warned that the savings environment was particularly challenging for consumers, facing lower interest rates than published inflation.

It's great to hear a lender issue good news about its performance and certainly we are also seeing some green shoots of lenders returning to the marketplace, if a little cautiously.

If you are looking for credit, you would do well to use our Find a Lender service which firstly matches your credit score to lender appetite, reducing significantly the chances of being declined, and also presents a list of lenders who are actively looking for new business right now.