Nationwide is offering a new switching incentive from today, paying £175 to those moving their current account to the building society. It has also confirmed that it will continue to offer 1% cashback on debit card spending to those with a FlexDirect current account, which offers an interest rate of 5% AER. Last year, Nationwide returned over £1bn to eligible members through its £100 Fairer Share Payment and the Big Nationwide Thank You payment, while this year, it paid over £400m through the Fairer Share programme.

Yorkshire Building Society has launched a new regular saver product for the second year running to support UK Savings Week. The product offers a variable interest rate of 6% and allows customers to save up to £50 per month over a 12-month period. Savers can make three penalty-free withdrawals during the term or withdraw funds if closing the account. The society said that the initiative supports the goals of UK Savings Week by encouraging people to start and maintain a regular savings habit, helping them to build financial resilience and improve their financial wellbeing.

The Mortgage Works has reduced rates on two- and five-year fixed rate product across its range for new and existing customers, with buy-to-let (BTL) and limited company BTL rates being cut by up to 0.15%. As a result, its two-year BTL fixed mortgage for new customers start from 2.74% at 65% LTV and its five-year fix start from 3.76% at 75% LTV, with both products coming with a 3% fee. On its limited company BTL range, two- and five-year products are available from 3.87% and 4.52% respectively at up to 75% LTV with a free valuation.

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