The Nottingham (Nottingham Building Society) is a mutual building society with a rich heritage dating back to 1849. While it has a traditional high-street presence in the Midlands, it has recently undergone a significant transformation strategy.
It has become recognised for its specialist lending focus, and support of borrowers who don't fit the standard mortgage applicant mould. This includes foreign nationals, skilled workers on visas, and those with complex incomes.
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Lender Details
Product Details
About The Nottingham
As a mutual society, it is owned by its members. In recent years, The Nottingham has modernised its brand and product offering, however, for mortgages, they operate largely through "The Nottingham for Intermediaries," partnering with brokers to deliver their specialist lending solutions nationwide.
Mortgage Products
The Nottingham offers a diverse range of products for properties across England and Wales, with a particular strength in niche markets.
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Residential Mortgages:
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High LTV: They support first-time buyers with mortgages up to 95% Loan-to-Value(LTV)
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Complex Income: They are known for high affordability limits, often lending up to 5.5x income for eligible borrowers. They can accept 100% of proven bonuses and overtime
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Foreign Nationals: They can lend to foreign nationals living in the UK without a minimum time of residency and without a UK credit footprint, by using credit data from their home country
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Buy-to-Let (BTL):
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Limited Company (SPV): They lend to landlords buying via a Special Purpose Vehicle
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Consumer Buy-to-Let: For "accidental" landlords
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Portfolio Landlords: They accept experienced investors with multiple properties
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Retirement Interest-Only(RIO):
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They typically offer RIO mortgages up to 60% LTV
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Pros and Cons of The Nottingham
Here is a balanced overview of choosing The Nottingham for your mortgage:
Pros:
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Foreign National Experts: They are one of the very few lenders who will consider a mortgage for a foreign national who has just arrived in the UK (Day 1), provided they have a job and credit history in their home country
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High Income Multiples: Their willingness to lend up to 5.5x salary (subject to criteria) is higher than the standard 4.5x cap of many high-street banks
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Mutual Ethos: As a building society, they focus on member value rather than shareholder profit
Cons:
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Intermediary Focused: Their most specialist products are often best accessed via a broker to ensure the complex criteria are met
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Geographic Limits: They generally lend in England and Wales, but not in Scotland or Northern Ireland
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Branch Network: While they have branches, they are concentrated in the Midlands and some have closed in recent years as they shift to digital/broker channels
Customer Service and Reviews
The Nottingham has an outstanding reputation for customer service.
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Ratings: They frequently achieve "Excellent" ratings (approx. 4.9 out of 5) on independent review sites like Smart Money People and Trustpilot
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Feedback: Customers often praise the efficiency of the digital app and the helpfulness of the telephone and branch staff
How to Apply for a Mortgage
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Directly: You can apply for standard residential mortgages or savings accounts directly via their website or in a local branch, however, keep in mind that this won’t allow you to compare their offering with deals from other lenders.
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Through a Broker: For their specialist products in particular, it’s highly recommended to use a mortgage broker. If you’re interested in applying through The Nottingham, we can help package your application correctly for the underwriters, whether you’re a foreign national, a self-employed applicant, or an older borrower. Simply get started to speak to one of our helpful team.