This followed the closure of TMO’s network proposition in the same month and a number of redundancies in its packaging arm.
Nationwide pre-tax profits up 21 per cent Nationwide has revealed pre-tax profits for 2005 of £517.1 million – up 21 per cent from 2004. Its total assets are now up by 10 per cent, rising from £101.4 billion in 2004 to £111.6 billion in 2005.
Nationwide secured a 11.8 per cent share of the net mortgage market and a 9.5 per cent share of the remortgage market. IF launches broker offset tool Mortgage brokers can now access a version of Intelligent Finance’s (IF) offset mortgage calculator which can be downloaded to their desktop to help demonstrate how offsetting with the bank can save their clients money. Brokers can now place all business online at www.brokers.if.com with all IF mortgages being available over the internet – including the six new offset products and the non-offset mortgage range.
