Nottingham Building Society breaks £1bn lending barrier

Ryan Bembridge

February 22, 2018

Nottingham Building Society increased its mortgage lending by 28% to £1bn in 2017 – up from £798m in 2016.

In the process the society grew its loan book by 11.6%, while its pre-tax profit rose slightly from £14.2m in 2016 to £14.5 in 2017.

David Marlow, chief executive of The Nottingham, said: “2017 was a record year for mortgage lending with £1.0bn of completed new mortgage lending for the first time, a 28% increase on performance in 2016.

“And just as important is the number of borrowers choosing to remain with the society at the end of their mortgage deal.

“In 2017 two out of every three chose to stay, representing £601m of retained mortgage lending, an 8% increase on 2016.

“Overall this enabled us to increase our mortgage assets by 11.6% – a strong performance in a competitive marketplace.”

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