According to its latest results, its new mortgage applications grew by 22 per cent year-on-year.
The group reported a pre-tax profit of £15.1m, which is up from a loss of £8.4m in 2020. It also compares to a pre-tax profit of £10m in 2019.
The lender also reported low arrears levels of 0.21 per cent, which is said was below the mortgage industry average of 0.83 per cent.
The Nottingham embarked on a number of partnerships in 2021, including a partnership with Mortgage Advice Bureau (MAB) and Belvoir that leverages MAB’s network and Belvoir’s high street advisers to offer the mutual’s members mortgage advice.
Customers can also access expert mortgage advice for their first home via the Beehive Money app’s marketplace service.
David Marlow, chief executive officer of The Nottingham, said that going into 2021 the mutual focused its energies on the Covid-19 pandemic, economic uncertainty from the pandemic and Brexit, reinventing to society, growing membership, acting as a responsible society and delivering a strong financial performance.
He said: “Whilst the challenges of the pandemic remain, I am delighted to report good progress on the development and delivery of our strategy, as well as a return to strong financial performance providing the platform for continued investment and growth.
“We enter 2022 financially strong and confident that the changes we are making to reinvent the society are the right ones ensuring that we have a relevant and vibrant future.”
The Nottingham confirmed that Sue Hayes (pictured) would take over from Marlow as chief executive following these results.
Marlow said that he was “immensely proud” of what the team had achieved over the many years and it had been an honour and privilege to serve its members.
He continued: “The Nottingham will always have a special place in my heart, and I will continue to watch our continued progress with real interest and pride.”
