Nationwide is offering a new mortgage deal at 3.99% -- a tasty offer that one hopes rival banks will try to follow. But wait, it’s not as good as it seems.
For a start the five-year deal is only available to those with a 40% deposit – it does nothing for people, like first-time buyers, who don’t already have property wealth. And so it doesn’t do much for the children of members – who just voted to allow CEO Debbie Crosbie to triple her bonus payments, to make sure she is paid like the banker she insists she is not.
