The Nottingham ups lending by 24%

Ryan Bembridge

February 23, 2017

Nottingham Building Society achieved a 24% gross lending increase to £798m in 2016 in a year of “twists and turns”.

The society handled over £1bn of mortgage applications for the first time and increased total assets by 8.2% to £3.6m.

It said it achieved “strong operating profit” but didn’t provide any details on how it compared to the year before.

Property transactions decline in April

Nikki Warren-Dean, head of intermediaries at the soceity, said: “The Nottingham has delivered an outstanding business performance in a year of twists and turns; we have lent more money to help people with home ownership since before the financial crisis.

“2016 was a year of change for the intermediary team but we demonstrated that customer service is the most effective way to achieve an excellent performance.

In the fourth quarter of 2016 the society launched with Legal & General Mortgage Club, while it also grew its intermediary team.

In the next few months the society will continue to grow its distribution via mortgage clubs, networks and estate agents, hire experienced BDMs in new locations and develop new technology to support intermediaries.

Jeremy Duncombe, director of Legal & General Mortgage Club, said: “The resulting growth in their mortgage volumes is testament to the success of working collaboratively with the team.”

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