Coronavirus (COVID-19) mortgages update
The current deadline for mortgage payment holiday applications, which allow homeowners to defer payments for up to six months, is 31 January 2021. You can find out more with the following articles:
- How to apply for a mortgage payment holiday
- What's happened to mortgages during COVID-19?
- How has the coronavirus affected house prices?
For the latest updates and advice, visit the Which? coronavirus information hub.
Principality Building Society mortgage customer ratings

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 | |
Application process | - |
Value for money | |
Keeping you well informed | |
Clarity of statements | |
Transparency of charges | |
Query and complaint handling | |
Ability to overpay or underpay mortgage | |
Online access | |
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.