NATIONWIDE customers have benefited by about £300m in the past six months, the building society said yesterday as it announced record first-half pre-tax profits.
Britain's biggest mutual said its members had enjoyed better interest rates and lower fees and charges than those offered by its rivals in the first half to October 4. Last year's equivalent figure was £272m.
The Nationwide said pre-tax profits during the period had climbed 30 per cent to £244.9m compared with the same period last year, while total assets rose to £107.8bn.
The group made net advances of £7.4bn, representing 13.7 per cent of the market, and described its mortgage retention levels as excellent, with a 6.3 per cent share of principal repaid.
Mortgage accounts in arrears were down 21 per cent from October last year and the group had a 9.3 per cent share of the retail savings market.
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