According to Nottingham Building Society’s half-year report, there were around 4,069 new mortgage customers in the first half of this year, a jump from 3,630 in the same period last year.

Its total mortgage assets also came to around £3.9bn, which is a growth of £600m on the same period last year.

The mutual’s underlying profit before tax came to £9m, which is a drop from £13.7m in the first half of 2023.

The firm’s net interest margin (NIM) stood at 1.87% at the half-year mark, which is a decrease from 2% last year.

Sue Hayes (pictured), chief executive of Nottingham Building Society, said that she was pleased with its financial results, pointing to its underlying profit figure.

Sponsored

How to get your first-time buyer clients mortgage ready

Sponsored by Halifax Intermediaries

She said: “Our underlying business performance is strong, with an 18.6% increase in gross mortgage balances compared with June 2023. We achieved significant growth in lending, while the overall UK mortgage market grew substantially less.

“We continue to invest in both our core IT systems and in developing innovation that will improve our mortgage application and credit risk decisioning processes in the future.

“Looking to the future, we will continue to progress our transformation plans, delivering the great customer service we know our members value whilst continuing to focus on innovation in our products and propositions in order to build a future fit society for our members and brokers.”