Complaints

Complaints Publication Report

With over 500,000 members and customers we pride ourselves on delivering excellent service, however, things can go wrong and customers may wish to make a complaint. We value the opportunity to put things right and view complaints as an important source of feedback on how we are doing and where we can make improvements.

Our complaints data for the 6 month period ending 30 June 2016 is set out in the table below:

Firm Name: Principality Building Society
Period covered: 1 January 2016 – 30 June 2016
Brand/Trading names covered: Principality Building Society.

  Number of complaints opened Number of complaints closed Complaints closed within 8 weeks (%) Complaints upheld by the firm (%)
Banking 143 144 99 50
Home finance 174 175 100 46
General insurance & pure protection 205 202 100 6
Decumulation, life & pensions 7 10 100 40
Investments 5 4 100 25

To help put these figures in to context:

  • Banking - We received 0.25 complaints for every 1000 savings accounts held.
  • Home Finance - We received 2.39 complaints for every 1000 mortgages held.
  • General Insurance and Pure protection - 95% of these complaints relate to Mortgage Payment Protection Insurance complaints.
  • Decumulation Life and Pensions - These complaints relate to historic sales completed before July 2009. Since 2009 the Society has introduced customers to Aviva and Legal and General for advice on these products.
  • Investments - These complaints relate to historic sales completed before July 2009. Since 2009 the Society has introduced customers to Aviva and Legal and General for advice on investments. Our complaints regarding structured products relate to historic sales completed before 2013. We haven’t sold structured products since 2013.

Full details of the FCA product categories.

Principality. Where home matters.