How does it feel to be voted Best Building Society Customer Service for the 7th year running in the What Mortgage Awards?
We’re delighted to have won the award for best customer service for the 7th consecutive year.
We’re very proud that our customers have recognised the hard work and dedication of our customer service teams. It’s a testament to everyone across the business, from our customer facing branch staff and business development managers, right through to the support teams who work tirelessly behind the scenes. As a business, we strive to provide our customers with a great and consistent service– whether they are savers, mortgage customers or brokers using our products, and that we’ve won this award for the 7th year in a row shows we’re on the right track.
Why do you think people voted for you?
I believe we were voted for as we’ve developed a strong relationship with our customers and are listening to their feedback to help develop our service and offering.
Our members told us how important our presence on their high street is to them, and we’ve committed to keeping our branches open whilst other lenders are moving out. We know how much they value having someone to talk to in person about their finances, and how access to cash is a priority. Where banks have left the high streets all together, we’ve partnered with Onebanx to support the local communities by introducing the first terminal in Wales in our Cowbridge branch in 2023. With a second now open in Caerphilly, Onebanx enables individuals and business customers of major banks and building societies to deposit and withdraw cash without needing to use a card. There is no charge for the service and the money is received immediately by the customer, and the service is also available in the Welsh language.
From a broker perspective, we’ve empowered our intermediaries team to help provide brokers and their customers with quicker outcomes and direct contact with underwriters. This all helps to get their clients’ cases over the line.
There’s also been a strong commitment to making more possible for mortgage brokers with our common-sense approach, listening to feedback to help improve our service for both them and their clients. We’ve made several mortgage criteria enhancements as a lender and will continue to develop our offering based directly on their feedback.
What changes have we made that have improved customers experience with Principality?
As a lender we’ve worked closely with both our customers and brokers to get their feedback to help us develop as a lender. Using our member forum ‘Member Pulse’ to test products, messaging and service through polls, surveys and focus groups plus we’re constantly sitting down with brokers asking what’s working well and what they would like to see from us a lender.
We’ve been actively engaging with first time buyers (FTBs) and know that the goal of home ownership has been increasingly challenging. We partnered with Verve, a global market research agency to discover more about FTBs and the challenges they are facing as they look to take their first step into home ownership.
With FTBs facing affordability challenges in the current market, we’ve developed our first home steps app to help keep track of their budget and keep their savings on track.
We recognise that FTBs are now looking for different strategies as they look for ways to secure their first home. As a response to this, we’ve packaged up a range of solutions from Income boosts to family solutions and new build boosts.
For a limited period, we’ve also enhanced how much a FTB can borrow increasing their loan to income to up to 5.5x which is available through mortgage brokers.
Lastly, a new exciting change for us is the launch of our new website which will provide customers and brokers a simpler user experience to make their online journeys with us as simple as possible.
Do you have a message for our readers who voted for you?
We’d like to say a huge thank you for voting for us and continuing to support Principality. The fact we’ve won this award for 7 years in a row means a lot to us. We will continue to strive to provide the best service for our members and brokers.
General enquiries:
0330 333 4000
New mortgage enquiries:
0330 333 4002
Web: www.principality.co.uk
