Rate more than doubles to 1.3% in May and average property price rises to £264,249, Nationwide says

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UK house prices returned to growth in May amid signs of market “resilience” after two months of falls, according to a building society.

The average property price in Britain rose 0.4% month on month to £264,249, after a similar-sized fall of 0.4% in April, Nationwide said.

Watchdog opens first stage of merger process to examine whether deal would lead to less competition

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The UK competition regulator has launched an inquiry into the £2.9bn takeover of Virgin Money by the rival lender Nationwide Building Society.

The Competition and Markets Authority (CMA) said it had opened the first stage of its merger process to look at whether the deal – one of the largest transactions in the banking sector since the 2008 financial crisis – would lead to substantial lessening of competition.

Its fraud team couldn’t resolve the matter and I’m running out of money

I’ve banked with Nationwide building society for more than 30 years without a problem – until last week when it blocked my debit card without explanation.

I’ve spoken to four members of its fraud team. They have been helpful and kind but their suggestions have, sadly, not resolved the matter. I am running out of money and have had to cancel a Sainsbury’s food delivery because I can’t pay for it and will soon be out of food.

The deal won approval of 89% of voting shareholders, lining up Richard Branson for a £724m windfall from sale

Virgin Money shareholders have voted in favour of a £2.9bn takeover by rival lender Nationwide Building Society, helping clear the path for the biggest UK banking deal since the financial crisis.

Just over 89% of voting shareholders said yes to the deal at a general meeting on Wednesday, while nearly 11% rejected the move. The resolution required at least 75% backing to pass.

Previous £25,000 maximum no longer enough to fund some home improvements, says building society

Nationwide building society has doubled the maximum personal loan it will offer borrowers to £50,000, citing the continued increase in building costs as the reason for the change.

The society previously offered up to £25,000 for qualifying customers but said this was no longer enough to fund some home improvement projects.