The Nottingham has reported a profit after tax of £4.9m for the first half of 2021.
The society’s mid-year results for trading in the six months to 30 June confirmed it currently has mortgage assets of £3.0bn.
One of the key drivers of the performance in this period was the increased activity in the housing market, The Nottingham stated, which delivered over half a billion pounds in mortgage applications for the society. This was up by more than a third on the same period in 2020, with completions climbing by 18%.
Despite the ongoing restrictions of the COVID-19 pandemic, the society also suggested a clear highlight in its opening half of 2021 was the growth of its younger members saving into a Lifetime ISA (LISA) to buy their first home. The Nottingham now has over 50,000 members doing so, the vast majority digitally, with balances in excess of a quarter of a billion pounds, which is up from just over £55m a year ago.
Elsewhere, the vast majority of the nearly 3,000 members supported with mortgage payment deferrals returned to making payments as normal, the society added, with only a handful of arrangements now in place.
“The past 15 months have brought unprecedented challenges to our society and our communities at large,” said The Nottingham chief executive, David Marlow. “We have navigated those challenges well so far, whilst demonstrating our mutual credentials in support of our members, colleagues, and communities.
“We are also fundamentally reshaping the society to support our growing membership well in a newly emerging world. It will be important that we continue to focus on this and be ready for the challenges and opportunities that lie ahead in the remainder of 2021 and beyond.”
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories