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Nationwide is making a push for change in customer regulations as it urges a relaxation of mortgage affordability rules. The calls from the building society, which ranks as the largest in

the UK and the most prominent mutual worldwide, aim to support an additional 10,000 prospective first-time homeowners. Muir Mathieson, the chief financial officer at Nationwide, commented:

"What's been fascinating though is that, in April and May, the strength of the mortgage market has continued. We haven't seen the cliff-edge, that drop-off in mortgage

activity in April and May that we were expecting quite frankly. "The mortgage market continues to be really resilient and we're intending to remain competitive within it."

READ MORE: TESCO ANNOUNCES 7PM 'CHARGE' Meanwhile, Debbie Crosbie, Nationwide's chief executive, observed: "The reality is that if we didn't have the limit as low

(as it is), then we could be lending to more first-time buyers. "For Nationwide alone we think it could be an extra 10,000 (per year), and it could be multiples of that if the market

limit was raised.", reports Birmingham Live. Reflecting on the competitive nature of the industry, Ms Crosbie added: "Our margin that we're earning is definitely lower this

year than it has been in previous years." Additionally, Nationwide is set to introduce a new Member Exclusive Bond with a market-leading 5% rate and launch a £200 member incentive

exclusively for switches. All 16 million existing members can access this Member Exclusive Bond, with options to open it in-branch, online, or through the Banking App. Members who save the

maximum £10,000 would earn £762.50 in interest after 18 months - over £150 more than they would receive over the same period in our next highest-rate bond (4% 1 Year Fixed Rate Bond).

Members who didn't hold their main current account with Nationwide on 31 March can take advantage of a £200 Member Exclusive Current Account Online Switch Offer from today. For the 13th

year in a row, Nationwide has topped the customer service charts, and increased its year-end lead to the highest it's been for eight years. It was also crowned as the Which? Banking

Brand of the Year last week. Nationwide boasts a unique Branch Promise and saw 5.7 million customers visit its branches last year – a year-on-year increase of four per cent. Over 30 per cent

of new current accounts and 40 per cent of ISAs were opened in branch last year.