Legal

Important information about Principality, our products and service

Our information

  1. This website is only for use in the UK and the products and services on it are only available to you if you are a UK resident.
  2. This website is governed by the laws of England and Wales and any disputes arising from it will be under the exclusive jurisdiction of the English courts.
  3. We will communicate with you in English. But if you ask us to communicate with you in Welsh, we will as far as we are able.
  4. Our Principal Office address: Principality Building Society, Principality Buildings, Queen Street, Cardiff CF10 1UA.
  5. Principality Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, reference number 155998. The Financial Conduct Authority does not regulate commercial or business related mortgages.
  6. You can check our authorisation on the FCA's Register by visiting the FCA's website https://register.fca.org.uk/ or by contacting the FCA on 0845 606 1234.

Mortgages

  1. Mortgages are only available on properties in England and Wales.
  2. We only provide information on and offer our own mortgage products.
  3. You must be aged 18 or over to apply for a mortgage with us. We also recommend that you consider your life cover and income protection arrangements when considering taking out a mortgage. Any application you make will be subject to an assessment of your financial standing and ability to afford a mortgage.
  4. We do not offer any commercial or business mortgages that are regulated by the FCA. Many buy-to-let mortgages will also not be regulated by the FCA. We will advise you whether a mortgage is FCA regulated.

Insurance

  1. We only advise on and provide information on general insurance products from a limited number of providers, with whom we have a relationship.

Financial Planning and Advice

  1. The Society does not provide financial planning and investment advice, but introduces only to Legal & General Assurance Society Limited Registered in England No. 00166055. Registered Office: One Coleman Street, London EC2R 5AA Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, Registration No. 117659.
  2. Any financial planning and investment advice given by Legal & General will relate only to the products and services of Legal & General.

Disclaimer

  1. No information given on this site is to be considered financial advice. If you require advice on any product or service offered by us, then you are asked to contact us directly as instructed on the site.

Complaints Procedure

  1. Further details of our complaints procedure are available from any of our branches or our Customer Contact Centre. Any complaints we cannot resolve may be referred to the Financial Ombudsman Service.

Compensation

  1. We are covered by the Financial Services Compensation Scheme (FSCS) that was established under the Financial Services and Markets Act 2000. As a customer of Principality Building Society your account(s) with us are covered unless you are in one of the categories that is ineligible for the Scheme. These categories include:
  • large companies
  • large partnerships
  • large mutual associations
  • local, provincial or municipal authorities
  • credit institutions
  • overseas financial services institutions,
  • operators or trustees of a collective investment scheme,
  • pension and retirement funds or trustees of such a fund,
  • supranational institutions,
  • governments, or central administrative authorities
  • firms within the Principality building society group
  • any person whose claim arises from transactions relating to a conviction they have received for money laundering.

The FSCS only pays compensation for financial loss if a financial institution becomes insolvent or defaults on its obligations. The compensation limits are per person per firm.

Retail Deposits

Deposits made by private individuals and small businesses are protected by the FSCS. The maximum level of compensation for bank and building society claims is £85,000 per person and this is the maximum amount for the total of all deposit accounts held by the individual with us.

Mortgages

The maximum level of compensation for claims against firms declared in default is £50,000 per person per firm. A claim in respect of a mortgage would only cover claims such as for mis-selling or for recovering sums paid that were not due, for example.

Investments

For claims against firms in default, which are providers of investment products, FSCS cover is up to £50,000 per person. Principality Building Society does not provide either investment advice or investments but introduces customers to Legal & General.

Insurance

Insurance advising and arranging is covered for 90% of the value of your claim (there’s no maximum amount). Further information about the compensation scheme arrangements is available from the FSCS http://www.fscs.org.uk/.

Telephone Calls

  1. To help us maintain our service and security standards, telephone calls may be monitored or recorded.

Principality Building Society Rules

  1. Please click to read the Principality Building Society Rules.

Principality. Where home matters.