Mortgages  

The Nottingham returns to mortgage market

The Nottingham returns to mortgage market
 Credit: Gareth Fuller/PA Wire

The Nottingham has made a full return to mortgage distribution across its broker network, after its tentative return to the market earlier this month.

The building society has reintroduced a range of fixed rate and discounted residential, buy-to-let, limited company buy-to-let and self-build products and said it was up-to-date with its service-level agreements.

This was after it announced earlier this month that it would again offer it products via a limited distribution of 12 networks and large firms.

The lender had withdrawn its mortgage product range in September to manage service levels after receiving an “unprecedented” level of applications.

Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “We have been true to our word and are fully up and running again with distribution to our entire broker network – as we said a couple of weeks ago that we were looking to do very soon.

“Returning in a structured and measured way was really important to ensure we could maintain the high levels of service we pride ourselves on, and we are delighted to now be in a position to be working with our entire network again.”

Martin Stewart, director at The Money Group, said the move signalled the industry was “on the right track” to recover from the pandemic.

He said: “The market continues to defrost from the first lockdown in March and we have seen further good news in recent weeks in terms of lenders enhancing criteria and becoming more comfortable with where the housing market is right now. 

“There is still clearly work to be done but this move by The Nottingham is further evidence we are, as an industry, on the right track which could bode very well for business levels throughout 2021.”

Since the first lockdown many lenders have been dipping in and out of the market, particularly with their high value ranges.

In September, the Intermediary Mortgage Lenders Association (IMLA) announced it would be surveying members to identify the challenges that were straining service levels.

amy.austin@ft.com

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