Mortgage with The Nottingham Building Society

oli_ro

Hi, I was recommended by a broker a mortgage product with The Nottingham Building Society. Call me weird, but I was a bit reluctant for the following reasons:
- they don't have a single branch in London(where I am based)
- they don't have an online service
- being a small lender, certain things might take a longer time during the application process.

Does anyone have any experience with them ? (or any other small building society for that matter).

Thanks in advance.

opinions4u

oli_ro wrote: »

- they don't have a single branch in London(where I am based)

Most bank branches would put you on the phone to a call centre if you wandered in and asked for information about an existing mortgage.

What benefits would you expect to see from a branch service?

- they don't have an online service

A mortgage tends to have 13 transactions a year. 12 of these will show on your bank statement as a direct debit. All 13 (the 13th being interest) will be on an annual mortgage statement.

What benefits would you expect to see from an online service?

- being a small lender, certain things might take a longer time during the application process.

They might. Or they might not. The biggest complaints about mortgage processing time I read about on these boards tend to be with HSBC (the country's biggest bank in terms of stock market value) and Abbey (owned by Santander who are also one of the world's bigger banks).

Mrs_Bumble

Is the deal you are being offered cost effective?

Does it save you money?

If so make the most of using a small friendly society.

I agree with the comments above.

Don't dismiss just because you don't know, see what the figures pesesent you? Just because they don't have branch near you? What benefit is there to going into branch afer the deal is done?

jade1986

Hi there,

We are FTB'ers and we are just in the process of arranging our mortgage with The Nottingham.

I can highly recommend them.. I ran through our details on the phone, received the application in the post the next day, signed this and returned it with bank slips etc on the Thursday. On Monday the lady rang me to tell me it was all okay subject to survey.. Survey was done on the Wednesday, and received the mortgage offer on the Friday.

Very happy with them so far :T