Nationwide building society: Profits hit by fall in buy-to-let mortgage loans

Nationwide building society: Profits hit by fall in buy-to-let mortgage loans
 

Its net mortgage lending was down from £3.5billion the previous year to £2.4billion as buy-to-let mortgage sales slowed following stamp duty hikes and changes to its own underwriting criteria.
Profit fell from to £322million from £401million in 2016, when it made a £100million one-off gain following the sale of its investment in Visa Europe.
Impairment losses on bad loans rose by £20million to £36million.
Chief executive Joe Garner said profits were "comfortably within our strategic target range" as it invests in improving services and benefits for customers.
It opened 202,000 new... read more

 
Saturday, 12:12 in Business, Views: 52
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