In This Article
Who are The Nottingham Building Society?
The Nottingham Building Society was established in 1849 and is now one of the UK`s top ten Building Societies. They are a regional building society, unsurprisingly located in Nottingham East Midlands and they support lending across England and Wales. Being a mutual organisation owned by its members they offer a range of financial services including savings accounts, mortgages, and insurance.
Nottingham For Intermediaries
The Nottingham Building Society has a strong commitment to the intermediary mortgage market reflected in having a mortgage broker-only arm called Nottingham For Intermediaries.
You will be unable to access Nottingham For Intermediaries products directly and their mortgages can only be obtained via a mortgage advisor.
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What mortgages do The Nottingham Building Society specialise in?
The Nottingham Building Society offer a range of residential and buy to let mortgages. Their range features free valuation or discounted Homebuyers reports, ability to switch products and all products being portable (which means you can move your mortgage should you move home).
Some mortgages that The Nottingham Building Society could help with are:
- High loan to value mortgages
- Interest-only mortgages
- New build mortgages
- Self-build mortgages
- Lending into retirement
- Flexible mortgages
- Buy to let mortgages
- Let to buy mortgages
- Portfolio landlord mortgages
How cheap are The Nottingham Building Society rates?
The Nottingham Building Society tries to be competitive in the market for the products that they offer. However, as with any mortgage, it is important to consider the whole package such as initial interest rate and fees before making any decision.
An expert mortgage advisor would review the total cost to pay over the term of the mortgage and not just consider the initial rate. An experienced mortgage advisor will also review your situation and future intentions such as will you be wanting to overpay, will you want to move house soon, or could you require further borrowing later down the line.
Can I remortgage with The Nottingham Building Society?
If you are already a customer of The Nottingham Building Society and interested in switching your mortgage deal, you will need to speak to The Nottingham Building Society. However, be mindful that they are only able to suggest a mortgage with the building society.
An independent mortgage advisor would be able to advise you on all products available in the market and find the best option for you, which may not be staying with them.
How quickly could I get a mortgage offer?
Using an experienced mortgage broker can speed up the time to offer as they are used to providing the information required from lenders.
The average time from application to offer is usually around four weeks. However, this is on a case by case basis. There are a few variables that can prolong this time such as how quickly the property can be valued, how quickly information is supplied by you or the mortgage advisor and the speed of service at the time and the complexity of the deal.
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The Nottingham Building Society has declined my mortgage application
If you have been declined a mortgage from The Nottingham Building Society, you should investigate why this was. It can be of many reasons such as your credit score or credit profile, the type of property or your overall situation.
To review your credit profile you can utilise Equifax, Experian or Check My File, which provides the most detailed credit report and offers a free trial.
A mortgage advisor could potentially help you find another lender willing to give you a mortgage. Mortgage advisors have access to specialist lenders which can consider bad credit, low credit score or non-standard properties.
Conclusion
The Nottingham Building Society is a regional building society located in Nottingham, England. They offer savings accounts, mortgages, and insurance to their members.
They offer a range of mortgage options, including high loan to value mortgages, interest-only mortgages, new build mortgages, self-build mortgages, and flexible mortgages.
If you are already a customer of The Nottingham Building Society and interested in switching your mortgage deal, you will need to speak to them. However, be mindful that they are only able to suggest a mortgage with the building society.
An independent mortgage advisor would be able to advise you on all products available in the market and find the best option for you – which may not be staying with The Nottingham Building Society.
If you have been declined a mortgage from The Nottingham Building Society, you should investigate why this was. It can be for many reasons, such as your credit score or credit profile, the type of property, or your overall situation. A mortgage advisor could potentially help you find another lender willing to give you a mortgage. Mortgage advisors have access to specialist lenders which can consider bad credit, low credit score, or non-standard properties.
They are experienced, which can boost your chances of being approved.
