Nottingham: Gross mortgage lending exceeds £350m in 2019

Jake Carter

March 6, 2020

Nottingham Building Society’s gross mortgage lending exceeds £350m in 2019.

Looking to the building society’s total assets last year, the lender noted a sum in excess of £3.8bn.

The society also recorded an increase in its saving balances, rising 2% to £2.4bn last year. Interest paid to savers also rose over the same time frame, up 12.8%.

Gross underlying pre-tax profit was noted at £10m and it added 20,000 new members in 2019, according to the building society.

Looking to arrears, levels were at 0.15%, compared to the industry average of 0.72%.

The building society added that over half a million pounds worth of rewards were accessed by its members through the society’s loyalty programme.

David Marlow, chief executive officer, said: “As we entered 2019, we were aware of a number of market and societal challenges that lay ahead.

“With that in mind it was important that our member-focused purpose: to help our members save, plan for and protect their financial futures, remained to the fore of our thinking and actions.”

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