Principality's latest research identifies key drivers of broker satisfaction

Principality Building Society’s latest mortgage broker research* has identified that in 2025 brokers are significantly more open to using different providers.

To understand broker priorities and track performance, we conduct Broker Tracker Research with IFF Research twice a year with 350-400 brokers.

Key Headlines

• In June 2024, just 27% of the brokers surveyed had used a new provider in the last 6 months.
• In June 2025, this had increased to 46%, with Principality being the second most popular new provider.
• Over the last year, we have also seen a 25% increase in those who would consider placing business with Principality in the future. 

What the research found

Reflecting an increasingly competitive environment, the top reasons brokers gave for trying new providers were:

1. Good rates
2. Better affordability; and
3. Testing a new provider and strong brand reputation. 

The research also tracks the key drivers of broker satisfaction, with the latest report indicating that the current top three drivers are:

1. Flexible lending criteria
2. Consistency of lending decisions
3. Providing a contact who can respond to questions. 

In comparison with 5 of the UK’s leading building societies, including Nationwide and Skipton Building Society, Principality continues to improve its ratings on these key drivers. 

It leads on the current top two key drivers of satisfaction - meeting a wide range of customer needs through flexible lending criteria and consistency of lending decisions.  

Whilst improving since the last round of research, Principality also came second in relation to providing a helpful contact who can answer any queries or questions. 
 

A word from our National Intermediary Manager, Helen Lewis

“Our broker tracker research helps us to shape our products and service to make a real difference for brokers and their clients. Whilst we are delighted with the headlines from the latest round of research, we know that we must continue to evolve to provide a standout service in an increasingly competitive environment. 

The recent strengthening of our regional BDM structure will help us to continue to improve our service and give brokers easy access to those who can help them secure a mortgage offer as quickly as possible.”

For information on how Principality Intermediaries can help with your client’s mortgage get in touch with your local BDM or contact our broker support team on 0330 333 4021.

*IFF Research Mortgage Broker - July 2025