A midweek reshuffle at a household-name lender has brokers alert and customers curious, with mortgages and home cover under fresh scrutiny.
Nationwide confirmed a leadership change effective from Wednesday, placing Damian Thompson in charge of its relationships with mortgage intermediaries and wider partners. The move reshapes how the building society works with brokers and with third parties across home loans, insurance, protection and investments.
What Nationwide said and when it takes effect
The UK’s largest building society has appointed Thompson as Director of Mortgage Intermediaries and Partnerships. The role starts Wednesday and sits under the Group Director of Mortgages, Henry Jordan. It carries responsibility for broker strategy and for third‑party arrangements across several product lines.
From Wednesday, Nationwide’s intermediary strategy and external partnerships across mortgages, insurance, protection and investments will be led by Damian Thompson.
One of the most visible relationships in scope is Nationwide’s link with Aviva, which underwrites the society’s home insurance. The society has not announced changes to rates, policy wording, or eligibility criteria. The update is about leadership and direction, not immediate pricing.
Who is Damian Thompson
Thompson moves from The Mortgage Works (Nationwide’s specialist lender), where he has served since early 2023 as Commercial Director for landlord lending. His background spans broker distribution, buy-to-let strategy and product development. That mix points to a focus on service consistency, criteria clarity, and deeper broker engagement.
A change after 18 years
The leadership handover follows an era shaped by Ian Andrew, who guided Nationwide and The Mortgage Works’ intermediary teams for 18 years. That continuity built strong ties with brokers during volatile markets. The baton now passes with an emphasis on maintaining those ties while tightening execution across multiple partners.
An 18‑year chapter closes as the intermediary team prepares for a new phase built on service, criteria and partner alignment.
What it means for you
The appointment does not alter your mortgage or insurance today. It may change how quickly services move, how products are presented, and how partners coordinate tomorrow. Here are five ways the shift could touch your pocket or your plans over the coming months.
- Faster broker decisions: clear authority lines can shorten turnaround times on applications, rate switches and further advances.
- Sharper criteria for edge cases: landlord portfolios, complex incomes or shared ownership could see more consistent case outcomes.
- Insurance fit with your mortgage: closer oversight of the Aviva home cover tie‑up may improve bundling options or excess transparency.
- Fee structures under review: packaging, valuation, or product fees may be simplified, which can help you compare real costs.
- More stable service during rate shifts: a single point of accountability can reduce chaos when market pricing moves quickly.
No rate cuts or premium hikes were announced with Wednesday’s change. The focus is structure, not instant pricing.
What brokers will watch next
Intermediaries care about speed, certainty and communication. With a new director across both brokers and partnerships, the market will track whether case handling times improve and whether criteria updates arrive in sync with product launches. Consistency across mainstream mortgages, buy‑to‑let and home insurance journeys will be a particular test.
Possible timeline of visible changes
| Period | What you may notice |
|---|---|
| From Wednesday | Clearer broker briefings and a single narrative on service priorities. |
| Next 30 days | Refinements to processing checkpoints, case escalation routes and service-level reporting. |
| Next quarter | Tighter alignment between mortgage products and partner-provided insurance and protection journeys. |
How this could affect mortgages, insurance and fees
Mortgages: borrowers nearing a rate switch may see faster offers if case pipelines are streamlined. Complex cases could benefit from more precise pre-application guidance. There is no confirmed change to product pricing.
Insurance: the Aviva relationship sits within the new remit. That enables closer oversight of underwriting feedback, claims trends and cover limits. Any policy tweaks would be communicated separately and would not apply mid-term without notice.
Fees: a structural review often maps where customers face friction. That can mean simpler fee menus rather than headline price moves. Watch for changes to product fees, valuation subsidies or cashback positioning rather than sweeping rate cuts.
Questions to ask your broker this week
- Will Nationwide’s current turnaround times affect my planned completion date?
- Is my case considered complex under today’s criteria, and how can I strengthen the file?
- If I bundle home insurance, what are the real costs and excesses versus a standalone policy?
- Could a product transfer beat a remortgage once you include fees and incentives?
- What happens to my application if pricing moves before offer?
Example scenarios to guide your next step
Remortgaging within eight weeks
If your fixed rate ends soon, ask your broker to run a like‑for‑like comparison that includes any product fee, valuation charge, and cashback. A streamlined service may help you lock earlier, but do not sacrifice total cost for speed alone.
First‑time buyer with variable income
Where payslips show fluctuating overtime or bonuses, request a documented criteria check before full application. A clearer intermediary playbook can reduce unnecessary credit footprints and help you present income evidence correctly.
Landlord adding a property
Portfolio landlords should gather a single, up‑to‑date schedule with rents, loans and EPC ratings. Consistent packaging saves time. Ask about stress‑test thresholds and whether your case fits today’s appetite before you pay for valuations.
Key terms explained
- Intermediary: a mortgage broker or adviser who submits and manages applications on your behalf.
- Underwriting: the process where a lender or insurer assesses risk and decides terms.
- Product fee: a charge tied to a mortgage deal that can change the true annual cost.
- Stress test: a check to see if you could afford the loan if rates rise.
Practical steps before you act
Check your current mortgage expiry date and diarise 4–6 months in advance for options. Pull together bank statements, payslips and ID so your broker can move quickly if service levels improve. For insurance, review your sum insured and excess to make sure cover still matches your home’s rebuild value.
If you are mid‑application, ask your broker for a progress update after Wednesday. If you are considering switching or buying, request a full cost breakdown that includes fees, incentives, and any early repayment charge. Transparent numbers make leadership changes less stressful and keep your plans on track.
Does this actually change my costs? My fixed deal ends in 6 weeks—should I lock a product transfer now or wait in case fees get simplified? Any real signs broker turnaround times are improving since Wednseday?