Nottingham Building Society reported that its half-year gross new lending jumped 15% to £525.7m from a year ago, as it added more than 4,000 new home loan customers.  

The mutual said its total mortgage assets lifted 18.6% to £3.9bn in the six months to the end of June, compared to the previous 12 months, in a financial statement.  

New mortgage customers rose 12.1% to 4,069 over the same period.  

Overall, the business posted an underlying profit before tax that fell 52% to £9m, as higher income was offset by increased exceptional costs.  

Nottingham Building Society chief executive Sue Hayes 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.”