Who is eligible for Nationwide's £100 bonus payment
Nationwide will distribute a £100 'Fairer Share' payment to over four million eligible members in 2025, up from 3.85 million last year, costing the building society £400 million.
To qualify for the payment, members must use Nationwide for everyday banking and hold a qualifying savings or mortgage product; payments will be made between June 18 and July 4.
The payment follows Nationwide 's 30 per cent jump in annual profits, driven by the takeover of Virgin Money and a focus on competitive interest rates.
Nationwide CEO Debbie Crosbie reported a record £2.8 billion returned to members and the highest ever growth in mortgage lending and retail deposit balances.
Following the £2.9 billion acquisition of Virgin Money, Nationwide has no immediate plans for job cuts and will maintain Virgin Money 's Newcastle headquarters, but long-term impacts on staff are still under review.
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The Guardian
23 minutes ago
- The Guardian
Reeves faces fresh pressure to spend billions more on affordable housing
Rachel Reeves is under renewed pressure to spend billions more on affordable housing, after an industry report suggested the government had significantly overestimated how many new homes would be built over the next few years. The chancellor is being urged by figures inside and outside government to spend heavily on affordable housing at this month's spending review, as a report by one of the country's biggest housing companies cast doubt on official forecasts. The findings from Savills suggest the government is further away from hitting its target of building 1.5m new homes than previously admitted. Its findings are likely to boost the arguments of Angela Rayner, the housing secretary, who is at loggerheads with Reeves over how much her department should be given to build new affordable homes. Kate Henderson, the chief executive of the National Housing Federation (NHF), which commissioned the report, said: 'This analysis shows that reaching the OBR's [Office for Budget Responsibility] forecasts, let alone the government's targets, will require a generational boost to investment in social and affordable housing.' Chris Buckle, the residential research director at Savills, added: 'The heroic rates of growth forecast by the OBR will not be achieved without further action from the government to support demand – particularly support for housing associations and an ambitious new grant funding programme.' One government source said funding for affordable homes was proving a sticking point in negotiations over June's spending review, with Rayner pushing for Reeves to spend much more heavily on it than the previous government did. Labour's vow to build 1.5m houses over the course of the parliament has been central to its promises on economic growth and tackling the cost of living. Hitting the target would require 300,000 net new additions to housing supply every year of the parliament – a level that has never been hit before. Ministers argue that they will be able to stimulate a housing boom by making changes to the planning system that make it far easier for private developers to invest in new schemes. Their claims have been bolstered by official forecasts from the OBR, which say there are likely to be 1.3m net new homes built over the five years to March 2030. Reeves welcomed that forecast in March, saying it showed the government was within 'touching distance' of hitting its target. However, the findings from Savills suggest ministers are much further from that target than Reeves's words suggest. First, the report says the 1.3m forecast applies to the whole of the UK, while the government's target applies only to England. It also highlights the fact that the OBR's forecast is for a period until March 2030, nearly a year after the latest possible date for the next election. Taken together, the report estimates the government is actually on track to oversee the building of 1m new homes by the end of the parliament – only two-thirds of the way to its target. In addition, Savills found the OBR had relied on historically high estimates of private housebuilding to create its forecast. In 2030, for example, the forecast says there are likely to be just over 1.2m private house sales, of which 160,000 will be newly built properties. This would be far in excess of historical trends, given that transaction volumes throughout the 2010s were closer to 1m, and that sales of newbuild properties rarely exceed 10% of the total number of transactions. If overall sales and sales of new properties remain closer to recent trends, it would mean only 100,000 new houses going on sale every year – less than two-thirds of the OBR's forecast. The OBR's forecasts also rely on affordable housebuilding rising in line with the private market, despite the fact that the number of new affordable homes being started has collapsed recently – down 35% in England in 2024 and 90% in London. The report comes amid a standoff between Reeves and Rayner over how much to spend on affordable housing until the end of the parliament. With less than two weeks to go until the chancellor announces departmental spending limits for the next three years, officials say the two cabinet ministers are yet to reach an agreement on the housing budget. At the March budget, Reeves announced an extra £2bn for the government's affordable homes programme in 2026-27. But Rayner is understood to be arguing for more, saying the extra money was billed at the time as a 'downpayment' on the government's housing commitments. She argues that the 1.5m target will be missed without much higher levels of support. The NHF has calculated that to meet housing need the government must build 90,000 new socially rented homes a year, which if entirely publicly funded would cost the government £11.5bn a year. The federation is also urging Reeves to guarantee that social rents should go up by 1 percentage point above inflation for the next 10 years – double the length of time the government has proposed. This would help buttress the finances of the country's housing associations, 11 of which recently wrote to the housing minister Matthew Pennycook warning of 'the worst housing situation in living memory'. Henderson said: 'This certainty of income is vital for housing associations to unlock the private investment needed to build new affordable homes and deliver growth, jobs and improved living standards.' Part of the government strategy for hitting its building targets is to reduce environmental protections, saying: 'We can't have a situation where a newt is more protected than people who desperately need housing.' But this is causing grave concern among environment groups who say that nature in England and the UK is already in crisis, that builders are already not fulfilling the promises they have made on nature, and that the delays in housebuilding are very unlikely to be entirely down to bats or newts. The OBR declined to comment.
Daily Mail
24 minutes ago
- Daily Mail
Woman looks unrecognisable after 6st weight loss she managed in months by ditching one popular staple
A 22-year-old lost an impressive six stone in only a matter of months by cutting out bread from her diet. Ellie Crabtree, from Cumbria, fell into a trap of emotional eating after her father, Geoff, 59, was diagnosed with terminal bone cancer in July 2022. She found herself frequently skipping breakfast and gorging loaves of bread and she gained five stone in just a year whilst caring for her father. 'I saw food as a comfort and felt so ashamed and didn't talk to anyone about it. We had bad news, and I would just eat more food,' she said. 'My biggest comfort food was bread. I could have easily have eaten half a loaf because that's what gave me that comfort. Ms Crabtree realised she needed to overhaul her diet after finding herself deeply unhappy with her appearance in one of the final photos taken with her father. 'I thought if this is the last photo I have with him and I don't even want to look at it, I need to make a change,' she said. After scattering her father's ashes in September 2023, she started a calorie deficit to try and shift the weight. A calorie deficit involves consuming fewer calories than you burn through daily activities and bodily functions leading the body to burn fat instead. Alongside her new protein rich diet—which consisted of oats, yoghurt, eggs, chicken, cottage cheese, salads, nut butters and fruit—Ms Crabtree also started exercising, determined to turn her father's death into 'something beautiful'. 'I lost four stone and joined a gym local to me', she said. 'It was just from eating in a calorie deficit but I tried to educate myself on the scientific way of losing weight healthily'. Then, in January 2024, Ms Crabtree committed herself to preparing for a bodybuilding competition to be held in May that year, dropping another two stone in the run up to the event, for a total of six stone lost. But the strict exercise regime and meal plan soon took a toll on her mental health. 'My whole life revolved around it at the time,' she said. 'I would get up and do my fasted cardio seven days a week. There were no off-plan days, it's just the dedication to your goal and the preparation is what you prioritise', she explained. 'I didn't go on holidays. I put my life on hold.' While she placed second at the bodybuilding competition, and qualified for the British finals, the young athlete started to struggle with her body image, and the pressure of maintaining her 'goal' weight. After placing second in this competition, Ms Crabtree realised that she hadn't truly dealt with the grief and trauma that came with losing her father. 'I thought after [the competition] it would all be rainbows and happiness as I'd worked for this goal, but I had a lot of healing to do', she explained. 'I'd been on such a journey and there was so much unresolved trauma from losing my dad. A few bingeing habits crept back up and I struggled with body dysmorphia.' Ms Crabtree is now working as a weight loss coach for women and is also open about the hazards of becoming too thin. 'You have to gain weight back and learn how to be healthy', she said. 'You can't be competition weight forever. I'm 10st 5lb now and maintain that in a healthy way.' She now wants to raise awareness about the toll such extreme diets and exercise plans can put on women's mental and physical health. 'There should be more awareness for women not to just see [bodybuilding] as a glittery bikini', she said. 'I feel people should have healthy relationships with food before they do something like that. 'It does have long lasting effects on your mental health, and I have struggled with that. 'In my job as a fat loss coach, I work with women to better their mindset and habits for weight loss. I'm trying to make their fitness journey fun rather than it feeling like a punishment.' Meanwhile, thousands have turned to so-called 'skinny jabs' like Ozempic, Mounjaro and Wegovy as quick fixes to weight loss. A parade of slimmed-down celebrities have fuelled concerns that the jabs are behind the return to the fat-phobic size zero trend—with A-listers including Sharon Osbourne and Oprah admitting to using the drug. Ozempic and Wegovy contain the active ingredient semaglutide, which mimics glucagon-like peptide-1 (GLP-1)—a naturally occurring hormone released in the small intestine when eating. The chemical signals to the brain when you are full and slows digestion. This keeps people feeling fuller for longer and dramatically reduces appetite. It also slows the liver's production of sugar, forcing the body to burn stored fat for energy. Approximately half a million people in the UK now take GLP-1 drugs, with clinical trials showing they can help patients lose up to 20 per cent of their body weight. However, experts said users should be made aware of potential negative effects. Doctors have warned that these weight-loss drugs could be harming your bones increasing the risk of fractures. The Royal Osteoporosis Society recently expressed concern over research showing that up to 40 per cent of the weight people lose by using these jabs–comes from their vital muscle and bone mass. This can have a significant impact of joint stability, raising the risk of osteoporosis—a condition that causes brittle bones.
BBC News
28 minutes ago
- BBC News
Shropshire NHS body welcomes disposable vapes ban
The ban on the sale of single-use disposable vapes has been welcomed by a health ban is aimed at protecting children's health and the environment and it means shops and supermarkets will no longer be able to stock Parker, director of strategy and development at NHS Shropshire, Telford and Wrekin, said: "It's a really good opportunity to raise the discussion about vaping and smoking and quitting."She said she would urge the government to go further though, and "think about more restrictions around things like flavours". Disposable vapes have been cited as a key driver in the rise in youth vaping and Ms Parker said her colleagues in Shropshire "regularly see an increase in children and young people vaping". "Many children try it once or twice and don't stick with it, but many children do," she said. The flavours of vapes were a concern to her, because she said they were "often marketed to target younger people". The ban on disposable vapes will not affect rechargeable or refillable devices, so she added she did not expect it to affect people moving to vapes as a means of quitting Parker said the health service would continue trying to move tobacco smokers on to vapes, because they do not produce carbon monoxide or she said it was still unclear what the full effects of vaping were, so encouraged people not to start vaping if they did not already in England breaching the ban face a £200 fine for the first offence with potentially unlimited fines or jail for those who repeatedly Wales and Northern Ireland have introduced their own bans, timed to coincide with England's ban. Follow BBC Shropshire on BBC Sounds, Facebook, X and Instagram.
