Whether you're an existing customer or a first-time buyer, compare the best mortgage interest rates from Principality Building Society with our comparison tool below. To see what rate you could be offered, create a free Tembo recommendation.
When you create a Tembo recommendation, you'll get a free, downloadable Mortgage In Principle for each of the schemes you could qualify for.
Create your own free, personalised recommendation to see the best way for you to remortgage, including if you should stay with Principality Building Society or change to another provider.
Principality Building Society offers a wide range of mortgage products, including fixed-rate and tracker mortgages for first-time buyers, home movers, remortgagers and buy-to-let customers. They also offer some niche products including Joint Borrower Sole Proprietor mortgages, Deposit Boost, 95% mortgages for buyers with smaller deposits, and shared ownership.
As with any provider, whether Principality Building Society is the best mortgage lender for you depends on your affordability and unique circumstances, what mortgage products you're eligible for, and what the market is currently like. An expert mortgage broker like Tembo can help you navigate these factors to ensure you get the best mortgage deal for you.
Like most mortgage lenders, Principality Building Society offers a range of mortgage products with different eligibility criteria. How much you could borrow for a mortgage depends on which products you're eligible for, your household income and deposit, and other factors like your credit score, employment type, and outgoings. But typically you can borrow between 4-4.5 times your income, although some applicants may be able to borrow more than this.
By creating a free Tembo recommendation, you can see what you could be offered for a mortgage by Principality Building Society and other providers without applying.
If you currently have a Principality Building Society mortgage and you're on a fixed-rate product, you can only overpay by up to 10% of your outstanding loan balance each year. So for example, if you have an outstanding mortgage balance of £180,000, this would mean you can overpay by a maximum of £18,000 without being hit by an Early Repayment Charge (ERC). Anything above this 10% threshold, you will have to pay an ERC on.
Ruth Russell
Mortgage Advisor at Tembo
Principality Building Society is known for being a good lender, having won the What Mortgage Award for the best building society customer service six years in a row. They also have a medium rating on Trustpilot when compared to lenders like HSBC, rated 2.4 out of 5 from 131 reviews.
Principality is the 6th largest building society in the UK and the 16th largest mortgage lender. Despite being on the smaller side, they offer a decent range of first-time buyer mortgages in comparison to some larger providers. However, they do not offer as many specialist schemes for customers who have credit hurdles or a complicated situation, which prevents them from using a standard mortgage.
Principality Building Society does offer guarantor mortgages including Joint Borrower Sole Proprietor mortgages (a.k.a Income Boost mortgages) and gifted deposits. Whether their products are right for you and your family depends on your unique affordability, as well as what mortgage products you qualify for. Working with a mortgage broker like Tembo who specialises in family-supported mortgages can help you navigate lenders' different eligibility criteria and find the best deal for you from across the market.
Unsure which mortgage deal to go for? Buying your first home can be confusing and overwhelming. Get help from the experts.
Coming to the end of your current deal? Remortgage onto a new one with our help. We'll show you whether you should stay with the same lender, or switch.
Upsizing to your forever home? Or maybe you're downsizing to something more manageable. Whatever your reason for moving, we can help you find the best deal for you.
Thinking of becoming a landlord? We can help you discover the best buy to let mortgage deal for you and how you could boost your mortgage affordability.
Whether it's first-time buyers, home movers or remortgagers - our expert team has been trusted by thousands to make home happen.
4 simple steps to buying your first home or remortgaging
Check your eligibility for a range of mortgages and buying schemes, and get a personalised recommendation with interest rates and repayments in under 10-minutes.
Book a call with our experts to complete the qualification process, and we’ll cover off any questions you might have about any of the mortgage deals and budget-boosting schemes we advise on.
Next, your dedicated advisor will undertake full affordability checks to prepare the mortgage application. Then we’ll submit it on your behalf!
Your Tembo advisor will be on hand to ensure everything runs smoothly, so you can move onto your new deal as quickly as possible.