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Nationwide goes top of press league

Nationwide Building Society got more positive media coverage in July than any other pro-vider, knocking Halifax off the top spot in the latest Presswatch analysis of the financial services sector.

Industry pundits and journalists praised the society for its standard variable-rate mortgage which was deemed one of the best in the industry.

Nationwide also got positive coverage for its credit card which does not incur charges when used abroad.

Halifax won praise for its remortgage deals but a decrease in the level of attention paid to its popular children’s regular saver account contributed to the bank’s fall from the top spot.

But Halifax also got the most negative mentions, largely due to cuts to a number of its savings products.

Halifax was followed by Barclays which, along with Lloyds TSB, NatWest and HSBC, got negative press foll- owing the Office of Fair Tra- ding’s announcement that fees on credit cards are excessive.

One issue which attracted particular attention in the press is contracting back into the state second pension, with insurers which provide customers with information on the subject, such as Norwich Union, HSBC, Axa and Standard Life, all winning praise.

Lowes Financial Management managing director Ian Lowes says: ” Bad press does not make any difference to us. Every company will get good and bad press and it is our job to choose the best product for the client.”

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