Nottingham reveals 2017 growth plans

Ryan Bembridge

April 24, 2017

Nottingham Building Society wants to increase its mortgage lending by 17% this calendar year after last year’s 24% rise.

The society is investing in staff, a new back office system and forging distribution partnerships to make this a reality.

Nikki Warren-Dean, Nottingham’s head of intermediaries, said: “The society recognises that brokers are one of the most important partners we deal with.

What’s the point of conveyancing?

“We are on track to reach 17% growth in mortgage lending and our underwriting team has expanded to support sales and distribution, so we aren’t growing at a pace we can’t deliver.

“This growth hasn’t come at the detriment of brokers sat at home waiting to have their files looked at.”

The society will employ 11 in its business development and mortgage desk teams from June 1, up from just four this time last year.

Tech-wise Nottingham should improve its service with an ‘omni-channel’ back office system which includes a broker portal system this year.

Warren-Dean conceded that the current systems work in silos and leave plenty of room for improvements, so barring hitches dealing with the society should get easier for brokers and consumers.

Distribution-wise the society will go live with a major mortgage network in May, having already signed deals with mortgage clubs TMA, PMS, Next Intelligence and Paradigm this year.

When Warren-Dean joined from GE Money in February 2016 Nottingham had bolstered its savings coffers – and she therefore had the remit of kick-starting it’s lending.

While last year’s lending growth reached 24% she conceded it started from a low base in 2015.

Having said that, the society lent more in the second half of 2016 than in any calendar year.

Once the society has its back office system in place it could expand its proposition further.

It launched into self-build last month and this could be followed by later life lending products at a later date.

Nottingham Building Society lends in England and Wales.

Enter your e-mail address to receive updates on this topic straight to your inbox

* indicates required
Send me news alerts on: