The mutual said it had a strong pipeline of mortgage offers, however, standing at £189m as of 30 June 2022.
It also streamlined some of its application requirements to make it easier for applicants.
During the period, the mutual helps almost 2,000 people buy a home and more than 1,000 remortgage.
Noting its recent launch into the holiday let market, the mutual said: “Our traditional mortgage markets remain extremely competitive, and we have started to evaluate other more niche areas of lending where we believe better risk adjusted returns exist.”
Nottingham Building Society said arrears remained low with a ratio of 0.21 per cent.
Sue Hayes (pictured), chief executive, said while some 90 per cent of its borrowers were on fixed rate deals and protected from rate rises, increasing inflation could “create affordability pressures” in the short to medium-term.
She added: “Our level of arrears has remained very low across 2022 but we continue to monitor this closely and will continue to support members experiencing difficulties.”
The mutual reported a pre-tax profit of £11.3m, more than double the £5.5m it saw during the same period last year. Compared to the second half of last year, this was down on a pre-tax profit of £14.9m.
Hayes said: “This marks my first set of results as chief executive since joining the society earlier in the year and, as I settle into my new role, the warm welcome I have received from everyone highlights the strength of the team at The Nottingham. As outlined in the 2021 Annual Report and Accounts, we entered 2022 financially strong. However extreme uncertainty remains in the economy, and it is against this backdrop that these results are reported.
“The first half of 2022 has been dominated by the challenging external economic picture. The conflict in Ukraine, supply chain issues and soaring energy costs have led to an extreme inflationary environment. We are very mindful of the impact that the cost-of-living crisis will have on our members and our colleagues.”
She added: “The remainder of 2022 is expected to be dominated by the challenging external economic environment. Whilst the risks from the pandemic seem to be abating, the uncertainty from the conflict in Ukraine and pressures on individuals and businesses of high inflation and energy costs will persist.
“Further bank rate rises are expected to counteract inflation, and this will put further pressure on our borrowers. The Society remains well placed to support its members and we continue to move forward with our strategy with a strong sense of confidence and sound financial base.”
