Nottinghamshire Building Society’s financial results for the year show £535.1m in gross new lending (2024: £525.7m), representing an increase of 1.8%.

The lender also reported 4,076 new mortgage customers (2024: 4,069), a marginal increase of 0.2% and £4.4bn in total mortgage assets (2024: £3.9bn), representing growth of £0.5bn (or 12.9%).

The mutual revealed an £8m profit before tax (2024: profit before tax £0.7m), representing an increase of £7.3m, with 2024 impacted by the Philips Trust Corporation payment scheme.

Philips Trust Corporation (PTC) went into administration in 2022 leaving more than 2,000 people out of pocket.

Newcastle, Leeds and Nottingham building societies voluntarily offered support to their respective customers whose money ended up with PTC.

Commenting on the results chief executive Sue Hayes said: “We’re pleased to report a positive performance for the first half of 2025 as we consolidate the momentum built during a landmark 2024.”

She added: “Our strategy in 2025 is a deliberate one: to moderate lending growth while we implement new technology, strengthen our core banking systems and evolve our mortgage proposition to better serve customers who don’t fit the traditional mould. This transformation will enable us to grow with greater speed and agility in 2026 and beyond.

“We’ve made great strides already. We’ve launched a new mortgage platform in July, diversified our funding through a successful public Residential Mortgage-Backed Security (‘RMBS’) issuance and continued to innovate for the benefit of our broker partners and members.”