Nationwide tops lenders poll

Posted: 02 Jan 2008 12:51:43 GMT

Nationwide has come top of a new survey from moneysupermarket.com looking at the most trusted banks and building societies, it has been revealed.

Nationwide has come top of a new survey from moneysupermarket.com looking at the most trusted banks and building societies, it has been revealed.

The building society polled 19 per cent of the vote, followed by Natwest with 13 per cent and Halifax with 11 per cent.

However, consumers are increasingly looking to customer service rather than the very best rates in light of the Northern Rock debacle, moneysupermarket.com has suggested.

"The Northern Rock crisis has clearly focused people's minds with service, reputation and lack of problems being uppermost in people's minds – even ahead of product offerings," outlined Kevin Mountford from moneysupermarket.com.

"Northern Rock is now only most trusted by 0.5 per cent of the population, showing that trust in a brand can diminish in seconds," Mr Mountford added.

A significant number of mortgage lenders have now passed on the Bank of England's December interest rate cut despite fears that the credit crunch would limit their ability to do so, John Charcol noted last month.


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