Principality Commercial announces landmark partnership

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Principality Commercial has agreed a £20m partnership with Rochdale Boroughwide Housing Limited, marking our first lending agreement with an England-based housing association.  

Rochdale Boroughwide Housing Limited is the UK’s first mutual housing society to be co-owned by its tenants and employees. 

The housing association manages more than 12,000 homes across the borough and provides vital housing and community support to local residents. It will maintain and improve existing housing stock of social and affordable homes in the east Greater Manchester area with the funding.

More about this partnership

Commenting on the announcement, Jan Quarrington, Senior Portfolio Manager at Principality Building Society, said: 

“This new partnership marks an exciting new chapter for Principality Commercial as we extend our reach and funding into England. Supporting housing providers in England allows us to make a positive impact in more communities with affordable housing options and community services, and particularly in the North West where we already have a growing customer presence.  

As a mutual, we are honoured to partner with an organisation that shares our dedication to making housing more affordable and achievable. We are confident that this funding will help Rochdale Boroughwide Housing continue to strengthen its services and build thriving neighbourhoods.”  

Amanda Newton, chief executive at Rochdale Boroughwide Housing, said: 

“We are also incredibly proud to have the support of our existing funders and to welcome Principality into the English social housing sector for the first time. This package gives us the stability and flexibility we need to build a better future together.” 

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