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Nottingham Mortgage Services to be sold to Belvoir and serviced by MAB

by: Anna Sagar
  • 02/06/2021
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Nottingham Mortgage Services to be sold to Belvoir and serviced by MAB
The Nottingham’s advice and search subsidiary, Nottingham Mortgage Services (NMS), will be sold to the Belvoir Group and managed by Mortgage Advice Bureau (MAB) as the Society looks to build its digital presence.

 

NMS, which was launched in 2014 and provides tailored advice and searches thousands of mortgages from several lenders, will be sold to the Belvoir Group and 27 NMS team members will move to Belvoir.

They will continue their current work as representatives of MAB, who will take over the provision of the service alongside Belvoir.

Other impacted roles are being supported by The Nottingham, with redeployment options available and no compulsory redundancies.

The new partnership will focus on extending the Society’s digital footprint, especially to its digital-first members who will use the Beehive Money app when it launches later this year.

The Beehive Money App will be the home of all the Society’s online savings accounts, including its Lifetime ISA, and users of the app will also be able to access digital mortgage advice facilitated by MAB.

The Nottingham CEO David Marlow said that there was strong appetite for its digital proposition, with more than 50,000 18-39-old Lifetime ISA savers and a strong cohort of first-time buyers looking to get on the property ladder.

He added: “The evolution of our mortgage proposition and our ambition to provide this digitally, as well as face to face, is further progression in our reinvention journey and reflects our ongoing aim of serving our members with products and services that are relevant to them as individuals and deliver value to them in the most effective and efficient way possible,” he continued.

MAB CEO Peter Brodnicki (pictured) said: “The Society is a modern, mutual organisation with a long legacy of doing the right thing by its members and it’s great to know that with this partnership, we will have the opportunity to provide digital led, in-app mortgage and protection advice, through our experienced advisers who will be helping tens of thousands achieve their home buying goals.”

 

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