She will be replaced at the mutual by Matt Kingston who steps into the role next March.

Pallett joined Nottingham Building Society in November 2022 bringing a large degree of mortgage market experience.

The mutual says she has played “a pivotal role” in the business by “strengthening Nottingham Building Society’s position in the mortgage and first-time buyer markets through more specialist lending propositions”.

It adds she also “expanded support for homeowners such as the foreign nationals mortgage offering and guiding the intermediary sales team toward new growth opportunities”.

Pallett joined the building society from LiveMore Capital, where she worked for three-and-a-half years, leaving as a board advisor.

Prior to that, she worked for the Bank of Ireland for more than 25 years, leaving as UK director of mortgage sales.

She was awarded the Bharat Sagar Lifetime Achievement Award earlier this year at the British Mortgage Awards.

Nottingham Building Society says Kingston is currently head of national sales and “has over a decade of experience in sales leadership focussed on the broker market — managing the Business Development Manager team and supporting brokers in sourcing the right mortgage offerings”.

Kingston says: “My focus will be on expanding our support for prospective homeowners, and delivering the commitment, as part of our rebrand, to continue our evolution into a specialist lender.”

Pallett adds: “It’s been incredible to see the business make real strides in the mortgage market and broaden our reach to support FTBs, particularly with the launch of our foreign national’s mortgage offering earlier this year.

“I’m incredibly proud of what we’ve achieved, and I know Matt’s leadership will only drive us further forward.”