Nottingham Building Society has reported declines in both gross new lending and pre-tax profits for the first half of 2026.
In a six-month trading update, the building society revealed it had lent a gross £336.8m compared to the £535.1m the year before.
This contributed to lower pre-tax profits of £6.2m for the six-month period, compared to £8m the year before.
Nottingham signed up 2,420 new mortgage customers in the first half of 2026, while it had signed up 4,076 at the same point in 2025.
This has seen total mortgage assets slip from £4.4bn to £4.2bn, with underlying net margin decreasing from 1.61% to 1.5%.
Sue Hayes, CEO at Nottingham Building Society, reflected on 2025 as a period of “deliberate consolidation” with this approach continuing to shape the strategy in 2026.
“During the first half of the year, we continued to embed our strategy as a modern, specialist residential lender, investing in our core banking and technology foundations, strengthening our intermediary proposition and taking a disciplined approach to lending growth,” said Sue.
“Looking ahead, our focus for the second half of 2026 is to scale lending for extraordinary borrowers, continue evolving our product and proposition offer, and publish our proprietary research that helps shape future product, proposition and policy thinking within the underserved market.
“We remain confident in our strategy and our ability to deliver sustainable, long-term value for our members.”
