The Nottingham Building Society has announced its estate agency and lettings services will be delivered through Belvoir - putting 120 roles at risk.
It is proposing to take the branch network to 48 with the merger of eight branches that have a partner shop close by, which are Wollaton Park; Firth Park; Carlton Hill; Groby; Netherfield; Sherwood; Ruddington; and Harpenden.
It is also proposing to close the Huntingdon branch as there isn’t a suitable local branch for it to merge with.
The Society confirmed the proposed changes will affect around 120 roles.
Belvoir has announced an alliance with The Nottingham, offering franchisees within the Belvoir, Northwood, Newton Fallowell and Lovelle networks the opportunity to significantly increase estate agency services in new locations.
Under the new agreement, the vast majority of The Nottingham’s estate agency and lettings activity will transfer over to the Belvoir Group, with The Nottingham ceasing trading for new estate agency and lettings operations at the end of August.
David Marlow, CEO of The Nottingham said: “We are confident that the Belvoir Group will be a first class partner for the Society. Belvoir offers an extremely good strategic fit with our existing building society network, enabling us to maintain estate agency services in a number of locations where we currently offer these services and providing future potential for us to extend services into locations where we haven’t previously had an estate agency and letting presence.
"In addition, we are looking forward to supporting customers who are buying or renting through the Belvoir Group with our extensive range of building society services.”
Dorian Gonsalves, CEO of the Belvoir Group said: “This strategic alliance represents an exciting and mutually beneficial opportunity for both the Belvoir Group and The Nottingham, and is expected to pave the way for further joint initiatives in the future.
“Franchisees within the Belvoir Group will have an opportunity to offer The Nottingham’s members high quality estate agency services, either from existing building society branches or from Belvoir’s stand-alone offices throughout the UK.
"In the first instance this opportunity will be extended to a number of our franchisees to increase their footprint by taking a presence in up to eleven of The Nottingham’s branches and working together in Nottingham, Leicester and Cambridgeshire.
“I am confident that this innovative alliance will prove to be a great success, as Belvoir and The Nottingham already share many core principles, including a determination to ensure that the customer remains very much at the heart of all aspects of the business.”
