Principality is Wales’ largest building society and the 7th largest in the UK, having gained over 500,000 members and £6 billion in assets since it was founded in 1860. It becomes the 23rd active lender to join IMLA.
Peter Williams, Executive Director of IMLA, said Principality Building Society’s input will help to strengthen the association’s voice as it builds relationships with regulators and policy makers:
We are delighted to welcome Principality Building Society to our membership. It is a trusted name across Wales and beyond, and with its successful track record I look forward to drawing on its experience and expertise to support IMLA’s work.
Intermediary lenders have a key role to play in encouraging growth in the wider mortgage market. The welcome addition of new members will continue to add weight to our talks with policymakers and regulators to help shape the future of the industry.
Jason Newsway, Head of Intermediary Sales at Principality Building Society, said: “The society has long been committed to the professional intermediary market and we are delighted to be joining an association whose focus is to promote and develop this sector.”