Progressive Building Society Financial Information and Details

The Progressive Building Society is a not-for-profit mutual organization, which means it's owned and controlled by its members.

It was founded in 1875, making it a well-established financial institution with a rich history.

As a mutual, the society's profits are reinvested into its business, allowing it to offer competitive rates and terms to its members.

This approach has helped the society build a strong reputation and loyal customer base over the years.

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Progressive Building Society has a long history dating back to 1875.

The society was founded by a group of local people who wanted to provide affordable housing to their community.

Today, the society operates under the brand name Progressive Mortgage Services.

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Progressive Building Society has a relatively small workforce. 70 people are employed at Progressive Building Society.

Progressive Building Society is based in Belfast, Northern Ireland.

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The Progressive Building Society offers a range of mortgage products for different needs, including first time buyers, current homeowners, self-builders, and remortgaging.

Their mortgage products allow you to borrow up to 90% of a property's value as a first time buyer, making it easier to get on the property ladder. You may also qualify for a discount rate or fixed rate mortgage, which can make your borrowing cheaper and/or your repayments more predictable for an introductory period.

The society offers specific self-build mortgages, releasing money in stages as the build progresses, making it a suitable option for those undertaking a self-build project. This approach can help manage the financial risks associated with self-building.

You can also consider remortgaging with the Progressive Building Society, allowing you to borrow up to 80% of your property's market value, which can help you secure a better interest rate or leave you with a spare lump sum once your old mortgage is paid off.

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The Progressive Building Society offers mortgage products for first-time buyers, current homeowners, self-builders, and remortgaging. Their mortgage products cater to various needs and circumstances.

You can borrow up to 90% of your home's value as a first-time buyer. This can make buying your first home more affordable.

The Society has a range of mortgage products for Northern Ireland residents. These products can help you find a mortgage that suits your specific borrowing requirements.

A fixed rate mortgage is available with a 4.38% interest rate for the first 5 years. This can make your repayments more predictable during this period.

Early repayment charges may apply to some of their mortgage products. This is something to consider if you're planning to pay off your mortgage early.

You can borrow up to 80% of your property's market value when remortgaging with the Progressive Building Society. This can help you get a better interest rate or a spare lump sum once your old mortgage is paid off.

A mortgage of £375,000 payable over 20 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55. This is based on a fixed rate mortgage with a 4.38% interest rate for the first 5 years.

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Self-build mortgages can be tricky to come by, but some lenders are more willing to take on the risk than others. The Progressive Building Society offers specific self-build mortgages.

These mortgages typically release money in stages as the build progresses, which can be a big help for self-builders who need to manage their finances carefully. This staged payment system can also give lenders more confidence in lending to self-builders, as it allows them to see how the project is progressing.

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Progressive Building Society has invested £1.5m in upgrading its branch on Conway Square in Newtownards.

The upgrade is part of a larger plan to refurbish all 11 of its branches in Northern Ireland, with a total of one-third to be overhauled by the end of next year.

The branch will temporarily operate from High Street in Newtownards until the work on Conway Square is finished in around three months.

Colleagues and customers are looking forward to seeing the improvements, which include a larger customer area with modern lighting and facilities.

The Regressive Building Society is a stark contrast to the modern mortgage landscape. They call themselves The Progressive Building Society, but their procedures are surprisingly old-fashioned.

Over 90% of building societies and banks make electronic checks to confirm a depositor's identity, but Progressive insists on certified copies of utility statements.

Their customer-unfriendly approach is a major red flag.

For those looking to secure a mortgage, it's worth noting that the Progressive Building Society offers a range of mortgage products.

They cater specifically to individuals buying a property in Northern Ireland, taking into account their unique borrowing requirements and personal circumstances.

The Progressive Building Society annual revenue was $32.9 million in 2025. This is a significant figure that indicates the company's financial stability.

Progressive Building Society is a major player in the financial services industry, with a strong presence in the market. Its annual revenue is a testament to its success.

The company's annual revenue has been steadily increasing over the years, reflecting its growth and expansion. This is a positive trend that suggests a bright future for the company.

Progressive Building Society's annual revenue is a key indicator of its financial health and stability. It's essential to consider this figure when evaluating the company's overall performance.

Michael Boyd is the Chief Executive of Progressive Building Society.

If you're looking to save money, regular savings accounts are a great place to start. Regular savings accounts usually require a minimum deposit every month and provide higher interest than other options.

The Progressive Building Society's Clockwork Regular Saver account requires a relatively low minimum monthly deposit. It's a good option if you want to save money regularly and earn better interest than their instant access account.

Fixed rate bonds can offer some of the highest interest rates available, but you'll need to keep your savings locked in for the duration of the bond. This means you won't be able to withdraw your money for the life of the bond.

Progressive Building Society offers fixed rate bonds that run for 1, 2, 3, and 5 years, each paying competitive interest. The longer the fixed rate bond, the better the interest rate.

If you're looking to save tax-free, Progressive Building Society's cash ISAs are worth considering. You can earn up to £20,000 in tax-free interest with their cash ISAs.

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