Building Society enjoys year of ‘good progress’

Nottingham Building Society has reported “further good progress” as its total mortgage lending passed £1bn for the first time.

The Society opened seven new branches in 2017, increasing the network to 67 sites, and welcomed more than 25,000 new customers.

The Nottingham chief executive David Marlow said: “Despite continuing uncertainty facing the UK economy, I am pleased to report a year of strong progress in the development of our ‘all under one roof’ strategy which is focused on supporting and rewarding our members for doing the right thing to plan for and protect their financial futures.”

The Society’s pre-tax profits increased slightly, by £0.3m to £14.5m.

Marlow believes The Nottingham’s branch network “has clearly set us apart” and is pleased to be operating on the hight street in Norfolk for the first time.

He added: “We are committed to branches as they are the ideal place to most effectively deliver our ‘all under one roof’ advice and service proposition. The continuing popularity of our branches is supported by the fact that our branch savings balances continued to grow, increasing by a further 8% in 2017.”