Your guide to Nottingham for intermediaries

When people are searching for mortgage lenders, they are usually introduced to traditional ones like high street banks, credit unions, and the like. These lending institutions have intermediary-only platforms that are created for the exclusive use of intermediaries or mortgage brokers. 

Another option for intermediaries and their clients is to secure a mortgage with a building society. This type of mortgage lender is a financial institution which operates as a mutual organisation owned by its members. They typically offer common financial services like savings and lending. They also offer mortgages for aspiring home buyers, portfolio managers, and real estate investors. 

When partnering with building societies, intermediaries should look for those that have years of experience as a mortgage lender like Nottingham Building Society. Want to find out more about them? 

In this article, Mortgage Introducer will discuss all that you need to know about Nottingham for intermediaries. We will shed light on how they can help their partner brokers and talk about their home loan products and services. We will also look at their eligibility criteria to help you assess if this is the right lender for you and your clients. 

Get to know Nottingham for intermediaries 

Nottingham for intermediaries is a trading name of Nottingham Building Society. This is a registered mortgage lender under the Financial Conduct Authority (FCA). They are a member of the Building Societies Association (BSA). 

Nottingham Building Society was founded in 1849 by a group led by Samuel Fox, a known philanthropist and abolitionist Quaker from Nottingham. They are also one of the first financial institutions to offer online banking via its “Homelink” service in 1983. 

Today, Nottingham for intermediaries operates through numerous building society branches.  

How can Nottingham Building Society help intermediaries? 

Like other mortgage lenders with intermediary-only platforms in the UK, Nottingham for intermediaries has many tools and resources for their partner brokers. For instance, they have an affordability calculator as well as a find your BDM page. Nottingham for intermediaries’ online portal has a user-friendly design to make mortgage applications fast and easy. 

Intermediaries who want to work with Nottingham Building Society can also choose from a broad range of competitive mortgage products for their clients.  

Submit and track your business 

Nottingham for intermediaries has a submit-and-track business page where you can easily place your clients’ mortgage applications. You simply need to register as an intermediary to get service. With this tool, you can: 

• assess your clients' borrowing ability 
• submit an Agreement In Principle (AIP) and a mortgage application 
• submit their necessary documents and information 
• track your clients’ application progress 

Other than tools and resources, Nottingham for intermediaries has made it easier to contact them for any inquiries via their Contact Us and Find a BDM pages. New brokers as well as the top mortgage intermediaries in the UK can expect that connecting with Nottingham Building Society is a smart move. 

They can be a great asset when marketing yourself as an intermediary with a lot of partner lenders. Plus, you can be sure that they will provide straightforward solutions for your clients’ mortgage needs. 

Nottingham for intermediaries’ mortgage products and services 

Nottingham for intermediaries offers the usual home loan products in the UK. Below, we have listed two of their flagship mortgage services and added their set of criteria. You can review Nottingham Building Society’s offerings and see if any of them fit your client’s needs: 

Residential mortgage 

Nottingham for intermediaries has set a minimum age limit of 18 years old for their applicants. Your clients can apply for these residential home loans until they are 75 years old. This maximum age limit is up until the end of the mortgage term. As for a Retirement Interest Only (RIO) mortgage, the age requirement is 55 years old. 

If your clients plan to be employed until they are 75 years old, Nottingham for intermediaries will need written confirmation from the adviser on the broker declaration form. The job type that your clients have should reflect their ability to work up until said age. 

How long should your clients’ residential mortgage term be? Find out in this video: 

If you wish to be updated about residential mortgages updates and trends in the UK, check out our Mortgage Types page. 

Residency for foreign nationals 

If you have clients who are foreign nationals, they need to have permanent rights to live in the UK and show evidence for this. Nottingham for intermediaries considers HM Armed Forces personnel abroad as UK residents during their deployment. 

As for the length of residence, your clients must prove that they have lived in the UK for the past two years. If they are on working visas, Nottingham for intermediaries will not accept their applications. 

Acceptable properties 

Nottingham for intermediaries will accept residential mortgage applications for properties in England and Wales. The property should also be your client's main permanent residence. 

Properties that have brick, block, or other strong, fireproof cladding with the right safety certification will be accepted by Nottingham for intermediaries. They will also accept properties that are fitted with solar panels. 

Construction methods 

Nottingham for intermediaries will accept properties that are constructed traditionally with brick or stone walls and pitched slate or tile roof. Properties that are also built with the listed materials below will be accepted: 

• modern steel frame 
• modern timber frame or oak frame 
• insulated concrete formwork (ICF) 
• structurally Insulated Panel Systems (SIPS) 

They will also accept the following property types: 

• flats and studios with a minimum internal floor area of 35 square metres 
• houses and bungalows with a minimum internal floor area of 50 square metres 

Nottingham for intermediaries will accept new build houses for up to 90% loan-to-value (LTV) ratio. Wimpey No-fines House and Laing Easiform houses can also be considered. However, it will be subject to a satisfactory valuation. 

Unacceptable properties 

Nottingham for intermediaries will not accept residential mortgage applications for: 

• freehold flats 
• prefabricated properties 
• mobile home or houseboat 
• second homes or holiday homes 
• self-build products available via BuildStore 
• timber-framed properties with timber cladding 
• straw bale, hempcrete, and volumetric construction 
• purchases that the vendor has owned for less than six months 
• steel framed properties (only modern steel frame is acceptable) 
• ex-local authority and housing association (ex-public sector flats), including Right to Buy flats 
• any construction covered by Housing Defect laws; this includes high alumina cement, prefabricated reinforced concrete and large panel systems 

Sedum (living green) roof types are also not acceptable. 

Buy to Let mortgage 

The minimum age requirement of Nottingham for intermediaries is 25 years old while the maximum is 85 years old at the end of the mortgage term. 

Curious to discover the difference between residential and Buy to Let mortgages? Watch this clip: 

Mortgage brokers should always be updated on the latest in the industry. You can learn more about Buy to Let mortgages in this page. 

Property type 

Nottingham for intermediaries will accept Buy to Let mortgage applications for properties that provide the basic standards required and: 

• are located in England or Wales 
• have a maximum of five bedrooms 
• are subject to selective licensing but not a house in multiple occupations (HMOs) 
• have an energy performance certificate (EPC) rating of E or higher dated in the last ten years 

Acceptable properties 

Nottingham Building Society’s acceptable properties are classified by construction methods, cladding, roofing, and solar panels: 

Construction methods 

Nottingham for intermediaries will accept properties that are constructed with the following methods: 

• modern steel frame 
• brick or stone walls 
• modern timber frame or oak frame 
• insulated concrete formwork (ICF) 
• structurally insulated panel systems (SIPS) 
• Wimpey No-fines House and Laing Easiform house can be considered subject to a satisfactory valuation 

Cladding 

Nottingham for intermediaries will accept properties that are clad with: 

• brick slips 
• traditional bricks or stone 
• metal (zinc, copper, aluminium or steel) 
• timber up to 25% of external wall surface area 
• modern render system (cement, line, acrylic or silicone) 

Roofing 

Nottingham for intermediaries will accept properties with roofs that are: 

• thatched 
• pitched slate or tile roof 
• flat and subject to a minimum 25-year insurance-backed guarantee 

Solar panels 

Nottingham for intermediaries will accept properties that are fitted with solar panels if these two conditions are met: 

• the lease agreement meets Nottingham Building Society’s minimum standards 
• building cover includes adequate insurance cover any damage caused to the property by the solar panels 

If you have clients who want to apply for a remortgage on houses with leased solar panels, Nottingham for intermediaries’ free legal service cannot be used.  

Unacceptable properties 

Nottingham Building Society will not accept mortgage applications for properties that are constructed through any of these methods: 

• properties with timber cladding covering more than 25% of the surface wall area 
• straw bale, hempcrete and volumetric construction 
• sedum (living green) roofs 
• any construction covered by the housing defect laws, such as:   
• unrepaired prefabricated reinforced concrete 
• high alumina cement 
• large panel systems 

Here are other unacceptable mortgage applications set by Nottingham for intermediaries: 

• freehold flats 
• properties not in a habitable condition 
• second homes or holiday homes for personal use 
• properties to be purchased from or connected to a property club 
• properties that will be let by the applicant to the local authority for social housing 
• property classified as a house of multiple occupation (HMO); this includes properties subject to mandatory, selective, or extra licensing requirements 

Why work with Nottingham for intermediaries 

If you choose to work with Nottingham for intermediaries, you can choose from a variety of mortgage products with competitive rates and attractive features. You will gain access to tools and resources to swiftly apply for their property loan offerings. 

Their BDM page also lists all their BDMs for hassle-free communication. As for mortgage application tracking, you can easily check the status of your applications through their Submit and Track business page. Overall, Nottingham for intermediaries is a good mortgage lender to work with since they have the experience and the necessary tools for mortgage brokers, whether seasoned or new. 

But if you feel like they are not the right fit, you can check out other mortgage lenders. Just be sure to select the ones with intermediary-only platforms. To help you with this, here are other guides to lending companies that you might be interested in: 

• Your guide to NatWest for intermediaries 
• Your guide to Barclays for intermediaries 
• Your guide to HSBC for intermediaries 
• Your guide to Nationwide for intermediaries 
• Your guide to Accord for intermediaries 
• Your guide to Coventry for intermediaries 
• Your guide to Leeds for intermediaries 
• Your guide to Skipton for intermediaries 
• Your guide to Aldermore for intermediaries 
• Your guide to Precise for intermediaries 

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