Who are Nottingham Building Society?

At Nottingham Building Society we’re going through an exciting period of change as we focus on the question of what mutuality means in the modern world.

In 2024, borrowers face potentially more challenges than ever before, and we’re evolving our mortgage proposition to ensure we can really have an impact on growing homeownership and supporting borrowers.

Our research shows us that a growing number of borrowers are defined as non-standard by the industry and our new strategic goal is centred around how we can better serve these underserved groups.

Key to that aim is to really understand the person behind the application and to break down the unnecessary barriers that prevent them from purchasing an affordable property.

And our innovative new foreign nationals proposition, which launched on 1st May, aims to do just that. Read more about our foreign nationals and returning expats proposition here.

How do intermediaries benefit?

• Comprehensive support from highly experienced BDMs and a dedicated mortgage desk support at every stage of an application
• Direct access to underwriters will mean your cases will be assessed on an individual basis and you will be kept informed throughout
• Online mortgage portal offers a standalone affordability calculator, the ability to submit AIPs or FMAs, carry out KFIs, upload documents and track cases through to downloading offers

Key benefits

Nottingham Building Society offers flexible criteria, competitive rates, generous affordability and a varied product range.

• Soft footprint at DIP stage
• One free basic valuation and a subsidised homebuyers report
• Free legal fees for remortgages (standard legal fees only) excluding limited company buy-to-let
• Full procuration fee paid on porting applications
• All mortgage offers valid for six months
• Latest trading figures considered for self-employed applicants

Products

• Residential
  • NEW – minimum length of time a contractor must have worked on fixed-term contracts in the same profession is 12 months and no minimum time required on current contract
  • Up to 95% purchase and remortgage (including FTBs)
  • Interest only up to 80% LTV and no minimum income
  • Up to 40-year term
  • Employed/self-employed income to age 75
  • Consider cases with historic adverse over three years old
  • ​LTI ratio of 5.5x against household income of over £75,000
• Foreign nationals
  • No minimum time of residency required in the UK
  • No minimum time remaining on visa
  • No minimum income needed
  • No UK credit history needed – through our data partner we can access overseas credit files from 13 different countries
  • Up to 90% LTV (capped at 75% LTV if a suitable credit source cannot be found)
• Retirement interest only
  • Up to 60% LTV
  • Purchase and remortgage
• Buy-to-let
  • No minimum personal income requirement
  • Non-current owner occupier
• Limited co BTL
  • New landlord and new SPV accepted
  • Flexible deposit and concessionary purchase accepted
• Holiday lets
  • 32-week rental assessment
  • 60 day personal use