The Intermediary – August 2025 - Flipbook - Page 90
L O C A L FO C U S
Nottingham
Broker value
LEWIS ATKINSON
senior mortgage and protection adviser at Just Mortgages
ottingham has been a highly sought aer area for homeowners
and investors for some time. However, there are more houses
on the market now than there has been in the last decade. As a
result, it has turned into a buyers’ market! Due to the volume of
properties on the market, properties are struggling to stand out from
each other, and there is less competition for the buyer. With sellers
competing in the market to sell, this is leading to reductions in the
market and driving the prices down. Knowing your worth and position is
imperative when negotiating. Offering low at the right time, for the right
property, can be where a great mortgage broker is extremely helpful.
With online agreements in principle being more accessible than ever,
we are seeing non-proceedable offers more and more. is is due to
self-disclosed information and a lack of understanding of the lender’s
policies – although this may not be seen as dangerous in the current
climate, it can be a huge waste of time and money to all parties involved.
In these confusing times, seeking advice from an adviser can be more
important than ever.
With interest rates still being perceived as high, buyers can be torn as
to whether now is the right time to buy. If rates drop further and
borrowing limits increase, this could lead to more competition for
properties. Some may have heard of the problems that buying a flat can
cause, with leasehold terms, ground rents and cladding. With houses,
we also have the types of builds, the area, spray foam, solar panels. With
banks and building societies having such flexible policies, buyers are
always looking to maximise their budget. Being savvy and exploring
different lenders’ policies could be the difference.
N
He explains: “There’s also notable
growth in applications from those
with non-traditional incomes, […]
with 31% of brokers reporting more
cases involving irregular earnings
and 23% citing a rise in self-employed
applicants.” This growing variety
speaks to Noingham’s economic
diversity and demographic depth.
“Noingham’s buyer base is diverse,”
Kingston says, pointing out that more
than 42% of residents come from
ethnic minority backgrounds, with
particularly high representation in the
private rented sector (PRS).
At the same time, Hussain observes
a shi in demand that underscores the
city’s investment appeal. He notes:
“The biggest change we have seen is
the demand for good quality advice
in the buy-to-let space, which has
surprised me, as we have always done
a lot of work with first-time buyers.”
While first-time buyers remain a
core focus, he says the split of clients
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The Intermediary | August 2025
in his business now sits at around 6040 between residential and investment
borrowers, with landlords playing
an increasingly prominent role in
shaping the market.
Lender trends
Lender choice is proving to be just as
varied as the city’s buyer base, with
borrowers increasingly willing to shop
around to secure the best fit for their
circumstances.
Atkinson says: “With banks and
building societies having such flexible
policies, buyers are always looking
to maximise their budget to buy
their dream home. Being savvy and
exploring different lenders’ policies
could be the difference between
having an offer accepted on your
dream home.”
It is this willingness to compare
that is shaping a market where both
high street giants and specialist names
are playing pivotal roles. Hussain
highlights Halifax as the standout
player for residential lending. At the
same time, he notes that the buy-tolet sector has a broader spread, with
“the likes of The Mortgage Works to
Aldermore and Landbay for HMOs” all
featuring prominently when it comes
to the buy-to-let market.
Local options also carry real weight.
Noingham Building Society, for
example, has been sharpening its offer
with targeted incentives.
Kingston explains: “We have
introduced rate cuts of up to 0.17%,
£1,000 cashback offers at 90% and 95%
[loan-to-value (LTV)], higher income
multiples of up to 5.5-times for earners
above £85,000, and reduced stress rates
on 2-year fixes.” These measures aim
to help groups that oen fall through
the cracks, from first-time buyers and
older borrowers to foreign nationals
and the self-employed. More broadly,
Kingston notes, it is encouraging
that lenders across the market are
increasingly prioritising speed and
clarity to support today’s increasingly
complex borrower profiles.
Rental demand
Noingham’s rental and buy-to-let
sector has become a defining feature
of the city’s housing market, with
private rentals accounting for 23.9%
of local housing stock — just above the
England and Wales average of 23.6%.
Demand, locals say, is showing lile
sign of waning.
Pointing to both rising rents and
impressive returns, Kingston says:
“Demand for rental properties is
robust. As of June 2025, average
monthly rent in Noingham is £982,
up 7.4% from £914 a year earlier – still
below the UK average of £1,344.”
He adds: “Prime central postcodes
such as NG1 see average rents of £1,190.
Average yields are reported at 8.7%,
making Noingham aractive to
investors.”
For investors, certain
neighbourhoods stand out as
particular hotspots. Atkinson
highlights Sneinton, Forest Fields, and
St Ann’s as “areas that are definitely
showing growth and popularity
within the market,” thanks in
part to regeneration and funding
programmes that are reshaping their
appeal. These districts, he notes,
present “great yields for buy-to-let
investors and opportunities for firsttime buyers.”
