Nottingham pushes lending up by 28% to £0.5bn

Julia Rampen
Written By:
Julia Rampen

The Nottingham Building Society increased its gross mortgage lending by 28% to

As figures currently stand, the results see the building society move a notch ahead of UBS and Aldermore on the Council of Mortgage Lenders list of biggest lenders.

Mortgages on the books were matched by retail funds, the annual results revealed, while arrears levels remained at just above a third of the CML industry average. The group enjoyed a pre-tax profit rise of 18%, to £8.5m.

Nottingham chief executive David Marlow said the increase in gross mortgage lending helped the balance sheet grow by 10%: “The society is well positioned to move forward, despite continued uncertainty in the economy. We have a strong capital position and robust financial performance.

“Our plans for the year ahead are focused on extending the reach of the Society beyond its current locations and continuing to develop and improve the products and services that we offer to members.”

He also signalled progress in the merger with Shepshed Building Society, agreed in principle in December, saying he looked forward to welcoming Shepshed members in April.