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The Nottingham, Nottingham House, 3 Fulforth Street, Nottingham, NG1 3DL

Nottingham Building Society

At Nottingham Building Society we’re going through an exciting period of change as we focus on the question of what mutuality means in the modern world.

In 2024, borrowers face potentially more challenges than ever before, and we’re evolving our mortgage proposition to ensure we can really have an impact on growing homeownership and supporting borrowers.

Our research shows us that a growing number of borrowers are defined as non-standard by the industry and our new strategic goal is centred around how we can better serve these underserved groups.

Key to that aim is to really understand the person behind the application and to break down the unnecessary barriers that prevent them from purchasing an affordable property.

And our innovative new foreign nationals proposition, which launched on 1st May, aims to do just that. Read more about our foreign nationals and returning expats proposition here.

Paid by

For details of when your proc fee will be paid, please click on the button below.

Paid by PMS

Proc Fees

Product	Gross			Net
Product	Fee	Min	Max	Fee	Min	Max
Residential & Buy To Let	0.40%	£200		0.38%	£190
Limited Company Buy To Let	0.55%	£200		0.5%	£190
Product Transfers - Residential & Buy To Let	0.30%			0.28%
Product Transfers - Limited Company Buy To Let & RIO	0.35%			0.32%
Retirement Interest Only	0.5%	£200		0.48%	£190
Expat & Foreign National	0.5%	£200		0.48%	£190

Proc fees - when your proc fee will be paid

Product Type	When does the lender pay PMS?	Frequency
All	14 working days following completion	Weekly

Lenders send payments by BACS which can take anything up to 5 working days to clear at PMS. PMS then make payment to brokers once the funds have cleared in our account.

Overview

Register

Register to place business with Nottingham Building Society:

*Please select that you are a PMS Mortgage Club member when registering, placing business or checking existing payment route to ensure you receive the procuration fee quoted by PMS.

The Nottingham offers flexible criteria, competitive rates, generous affordability and a varied product range.

Benefits include:

Soft footprint at DIP stage
One free basic valuation and a subsidised homebuyers report
Free legal fees for remortgages (standard legal fees only) excluding limited company buy-to-let
Full procuration fee paid on porting applications
All mortgage offers valid for six months
Latest trading figures considered for self-employed applicants

Products

Residential

Minimum length of time a contractor must have worked on fixed-term contracts in the same profession is 12 months and no minimum time required on current contract
Up to 95% purchase and remortgage (including FTBs)
Interest only up to 80% LTV and no minimum income
Up to 40-year term
Employed/self-employed income to age 75
Consider cases with historic adverse over three years old
LTI ratio of 5.5x against household income of over £75,000

Foreign nationals

No minimum time of residency required in the UK
No minimum time remaining on visa
No minimum income needed
No UK credit history needed – through our data partner we can access overseas credit files from 13 different countries
Up to 90% LTV (capped at 75% LTV if a suitable credit source cannot be found)

Retirement interest only

Up to 60% LTV
Purchase and remortgage

Buy-to-let

No minimum personal income requirement
Non-current owner occupier

Limited co BTL

New landlord and new SPV accepted
Flexible deposit and concessionary purchase accepted

How do intermediaries benefit?

Comprehensive support from highly experienced BDMs and a dedicated mortgage desk support at every stage of an application
Direct access to underwriters will mean your cases will be assessed on an individual basis and you will be kept informed throughout
Online mortgage portal offers a standalone affordability calculator, the ability to submit AIPs or FMAs, carry out KFIs, upload documents and track cases through to downloading offers