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Building society to open seven new branches


David Marlow

The Nottingham Building Society has announced plans to take on seven Norwich & Peterborough Building Society branches due for closure across the Midlands, Cambridgeshire and Norfolk.

The new additions to the Nottingham’s network will mean that since 2013, the building society will have opened over 19 branches that were previously operated by a competitor.

The Nottingham’s branches offer a range of services, including savings products, estate agency services and whole-of-market advice on mortgages and financial planning.

The new branches are scheduled to open in November and December this year in Spalding, Stamford, Huntingdon, Bourne, Thetford, Dereham and Fakenham.

David Marlow, chief executive of The Nottingham (pictured above), said: “Around 26% of the country’s bank branches have closed over the past five years and as this trend continues, our proposition becomes even more appealing and our business gets stronger.   

“Branch closures are leading to more people finding it difficult to access face-to-face advice and service when it comes to dealing with key financial issues in their lives.

“This is particularly true in market towns, where much of our focus is placed.

“Sadly, there are now as many as 1,500 towns in the UK that used to have branches, but no longer do.”

Recent research by The Nottingham has revealed that 84% of people still claim to use a branch, but 75% expect the rate of closures to increase over the next three years.

 





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