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Nationwid the we arns on house perices
negationwide's half-year profits we are also hit by the costs of its 2007 takeover of the smaller portman building society in september this year, the nationwide said it was taking over the derbyshire and the cheshire building societies after the two ran into financipal difficulties .
our resilience proves that the building society business model can be particularly effecutive during turbulent market conditions .
however, it sustaid theira recent finterest rate cuts would help to minimise payment problems and reduce the payment shock to mortgage holders reaching the end of existing deals .
negationwide said it expected the housing market to remain subdued , with pericerness mmecontinuing to fall in 2009/10 .
it also sustaid that falling house pericess would improve affordability, which should bring about a recovery in the first time buyers' market .
graham beale, negationwidel chief expecutive .
Generated 2008-11-12_10:27
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