Principality Building Society
Building SocietyPrincipality Building Society is the largest building society in Wales and the sixth-largest in the UK, with a strong presence across Wales and the borders. It offers residential and buy-to-let mortgages with a community-focused ethos, supporting Welsh homebuyers with local market expertise.
About Principality Building Society
Principality Building Society was founded in 1860 in Cardiff and has grown to become the largest building society in Wales and the sixth-largest in the UK. The society has its headquarters in Cardiff and maintains a strong presence across Wales and the Welsh borders. Principality is a mutual with no shareholders, focused on serving its members and communities.
Principality offers residential and buy-to-let mortgages with a community-focused ethos. The society brings local market expertise to Welsh homebuyers and landlords, with an understanding of the regional property market. Principality serves customers through branches in Wales and the borders, and via mortgage brokers across the UK.
The society is regulated by the FCA and PRA and is a member of the Building Societies Association. Principality has a reputation for competitive rates and personal service. The society supports Welsh communities through its lending and community investment programmes.
Lending Focus
Principality Building Society offers mortgage products across 2 categories including Residential, Buy-to-Let.
Key Features
- Largest building society in Wales with deep local market knowledge
- Competitive fixed-rate and tracker mortgages for Welsh homebuyers
- Buy-to-let products available for individual and limited company borrowers
- Community-focused mutual with branch network across Wales and the borders
- Flexible criteria for self-employed and contract workers
Pros & Cons
Pros
- Deep local expertise in the Welsh property market
- Community-focused mutual with strong branch presence across Wales
- Flexible criteria for self-employed and contract workers
- Competitive rates driven by mutual ownership model
Cons
- –Branch network concentrated in Wales and the border counties
- –No shared ownership or self-build mortgage products
- –Product range smaller than larger national building societies
Fees & Charges
- Arrangement Fee
- £995 or fee-free options available
- Valuation Fee
- Free on selected products; otherwise £250–£1,200 depending on property value
- Early Repayment Charge
- 1–5% during the initial deal period
- Overpayment Allowance
- Up to 10% per year without charge
Mortgage Rates
Rate data coming soon. View rates on Principality Building Society
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- 2–4 weeks from application to offer
- Online DIP
- Yes — available online
- Offer Valid For
- 6 months
Lending Criteria
- Maximum LTV
- 95%
- Max Loan Amount
- £2m
- Min Loan Amount
- £25k
- Rate Types
- fixed, tracker, discount
Frequently Asked Questions
Does Principality Building Society only lend in Wales?
No, while Principality is based in Wales and has deep local expertise, its mortgage products are available for properties across England and Wales through both direct and intermediary channels.
Does Principality Building Society offer buy-to-let mortgages?
Yes, Principality offers buy-to-let mortgages for both individual landlords and limited company borrowers, with competitive fixed-rate and tracker products.
Is Principality Building Society a mutual?
Yes, Principality Building Society is a mutual organisation owned by its members. It is the largest building society in Wales and the sixth-largest in the UK.
Can I get a Principality mortgage if I am self-employed?
Yes, Principality Building Society has flexible criteria for self-employed borrowers and will typically accept two years of accounts or SA302 tax calculations as proof of income.
How to Apply
Direct & broker access. Apply directly or via a broker for whole-of-market access. Find a broker
Similar Lenders
View all lenders| Name | Niches | Type | Max LTV |
|---|---|---|---|
| Buckinghamshire Building Society | Residential, Buy-to-Let, Limited Company | Building Soc. | 90% |
| Cambridge Building Society | Residential, Buy-to-Let, Self Build+1 | Building Soc. | 95% |
| Chelsea Building Society | Residential, Buy-to-Let, Shared Ownership | Building Soc. | 95% |
| Coventry Building Society | Residential, Buy-to-Let | Building Soc. | 95% |
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