Nottingham Building Society has released interim figures for the first half of 2026 that show the mutual remaining profitable while deliberately tightening lending activity after a period of rapid growth.
Performance at a glance
The society recorded a profit before tax of £6.2m for the six months to 30 June 2026, down from £8m in the same period last year. Gross new lending fell to £336.8m, while total mortgage assets edged down to £4.2bn. In contrast, total savings balances increased to £4.6bn, up from £4.4bn a year earlier. Interest paid to savers was £72.6m, compared with £82.1m in H1 2025.
"We are pleased to report a resilient performance for the first half of 2026 as we cement the foundations for Nottingham Building Society’s next phase of growth."
The society’s leadership described 2025 as a year of consolidation after consecutive years of double‑digit expansion, and said the same disciplined approach continued into 2026 amid a challenging macroeconomic backdrop.
What the numbers mean locally
For members in Nottingham and the wider East Midlands, the results suggest a cautious pivot by the mutual: slower mortgage origination but a stronger deposit base. That mix reduces balance‑sheet risk and preserves capital, but also means fewer new lending opportunities for homebuyers using the society’s products in the short term.
- Gross new lending: £336.8m (H1 2026)
- Total mortgage assets: £4.2bn
- Total savings balances: £4.6bn
Management said investments continue in core banking systems, intermediary relationships and staff rewards, signalling that the society is preparing to scale lending selectively later in the year, particularly to what it calls "Extra Ordinary Borrowers" — a term referenced in the interim statement as a focus for future growth.
Key figures
| Metric | H1 2026 | H1 2025 |
|---|---|---|
| Gross new lending | £336.8m | £535.1m |
| Total mortgage assets | £4.2bn | £4.4bn |
| Total savings balances | £4.6bn | £4.4bn |
| Interest paid to savers | £72.6m | £82.1m |
| Profit before tax | £6.2m | £8.0m |
Society chief executive Sue Hayes said the organisation is committed to its mutual model and to improving access to home ownership, while continuing to build its brand and community partnerships. The interim note also flagged a repeat of a strong Individual Savings Account (ISA) season and enhancements to colleague reward packages.
Outlook and practical implications
Directly for customers, the immediate effect is likely to be more conservative mortgage availability and continued competitive offers for savers, particularly during ISA campaigns. Members should expect the society to emphasise targeted lending products and proprietary research that management says will inform future policy and product design.
For local stakeholders — advisers, intermediaries and housing providers — the message is one of steadying rather than expansionary activity. The society has reiterated plans to scale lending in the second half of 2026, but with a selective and measured approach.
Readers who are Nottingham Building Society members or considering its products should review the society’s published interim report for detailed product and risk disclosures and speak to their mortgage adviser or the society directly for personalised information.
