The Nottingham Building Society has announced its commitment to the Chancellor’s newly launched Mortgage Charter, aligning with fellow lenders to implement universal standards aimed at aiding and reassuring borrowers strained by escalating interest rates.
In a statement, Sue Hayes (pictured), CEO of The Nottingham, reflected on the adverse effects of successive base rate rises, acknowledging the immense pressure such increases are placing on household budgets.
Hayes said: “This is a worrying time for many borrowers as the impact of successive base rate rises has put increasing pressure on household finances. We want to do everything we can to support customers through this period.”
Reiterating the Society’s 170-year history of helping people realise their home ownership dreams and assisting customers during challenging times, Hayes affirmed The Nottingham’s full backing of the Mortgage Charter and its objectives.
“While we have a range of support measures in place already, the new Mortgage Charter aims to provide further clarity and reassurance. We are pleased to be part of this unified approach,” she said.
Hayes further emphasised the Society’s commitment to its customers, expressing confidence that its participation in the Charter, along with other banks and building societies, will bolster its efforts to meet the needs of its customers.
“Our customers are always central to our thinking, and coming together with other banks and building societies at this time to make this commitment will ensure we can continue to meet their needs,” Hayes concluded.
