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Principality Building Society mortgage review

Our Principality Building Society mortgage review combines customer feedback with expert deal analysis to reveal whether the lender is worth considering next time you apply for a mortgage.

In this article
Principality Building Society mortgage customer ratings What kinds of mortgages does Principality Building Society offer? Does Principality Building Society offer the best mortgage deals? Interest rates on Principality Building Society mortgages
How much could I borrow from Principality Building Society? Can I make overpayments? How can I contact Principality Building Society?

Principality Building Society mortgage customer ratings

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Principality Building Society review
Which? Customer Score
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80%
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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Principality Building Society is based in Cardiff, and offers mortgages on properties in England and Wales.

The table below shows how Principality performed in our latest mortgage satisfaction survey, from application process to value for money.

Customer rating for: Star rating
Customer service

5 out of 5

Application process -
Value for money

4 out of 5

Keeping you well informed

5 out of 5

Clarity of statements

5 out of 5

Transparency of charges

5 out of 5

Query and complaint handling

5 out of 5

Ability to overpay or underpay mortgage

5 out of 5

Online access

5 out of 5

 

Star ratings based on a June/July 2020 Which? survey of 3625 members of the general public in which 38 people told us they had their mortgage with Principality Building Society.

What kinds of mortgages does Principality Building Society offer?

Many mortgage lenders have significantly cut their offerings this year due to the coronavirus outbreak.

When we checked in September 2020, only nine mortgages were available from Principality. All were fixed-rate deals - meaning your interest rate will stay the same for a set initial period.

Principality's mortgages came with a initial period of two, three or five years.

 

Does Principality Building Society offer the best mortgage deals?

Our experts analysed hundreds of mortgages over a four-week period in July 2020. They compiled a total of 208 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average number of times a lender made it into a table was 16, but Principality featured just three times, meaning it only occasionally offered some of the cheapest rates. (Data source: Moneyfacts.)

Interest rates on Principality Building Society mortgages

In September 2020, the average rate on a two-year fixed-rate mortgage from Principality  was 2.16%, compared to the overall market average of 2.33%.

How much could I borrow from Principality Building Society?

Principality will lend to first-time buyers, home movers and remortgagers at 65%, 75% and 80% loan-to-value.

Principality doesn't publish its borrowing caps, so you'll need to speak to the lender or your broker about how much you might be able to borrow in relation to your annual salary.

Can I make overpayments?

Principality's deals allow you to overpay up to 10% of the mortgage balance each year. 

How can I contact Principality Building Society?

Mortgages from Principality are available directly and through mortgage brokers

Principality can be contacted on 0330 333 4000.

Its website is principality.co.uk.

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