Key Points
- Principality Commercial, the commercial arm of Wales’ biggest building society, has announced a £20 million partnership with Rochdale Boroughwide Housing Limited.
- Rochdale Boroughwide Housing Limited is the UK’s first mutual housing society, co-owned by its tenants and employees.
- The housing association manages more than 12,000 homes across Rochdale borough and delivers housing and community support as a social landlord.
- The funding will enable Rochdale Boroughwide Housing to maintain and improve its existing stock of social and affordable homes in east Greater Manchester.
- This marks Principality Commercial’s first lending agreement with a housing association based in England, outside Wales.
- Jan Quarrington, Senior Portfolio Manager at Principality Building Society, highlighted the partnership’s role in extending reach into England.
- Amanda Newton, Chief Executive at Rochdale Boroughwide Housing, praised the funding for providing stability amid regulatory compliance return.
- Principality Commercial operates across England and Wales, financing investment and development in commercial and residential sectors, including housing associations.
- The deal supports Rochdale Boroughwide Housing’s three-year Corporate Strategy, prioritising customer needs into 2026.
Rochdale(Manchester Mirror) January 28, 2026 – Principality Commercial, the commercial arm of Wales’ biggest building society, has announced a £20 million partnership with Rochdale Boroughwide Housing Limited, marking its first lending agreement with an England-based housing association. This landmark deal will fund maintenance and improvements to social and affordable homes in east Greater Manchester. Rochdale Boroughwide Housing Limited, the UK’s first mutual housing society co-owned by tenants and employees, manages over 12,000 homes across the borough, providing essential housing and community support.
What Is the Nature of This £20 Million Partnership?
Principality Commercial lends across England and Wales, offering finance for investment and development schemes in both commercial and residential sectors, including support for housing associations. The £20 million package provides Rochdale Boroughwide Housing with the resources to sustain and enhance its housing stock. As a social landlord, the association plays a pivotal role in addressing local housing needs in Rochdale.
This collaboration represents a strategic expansion for Principality Commercial. It is their inaugural partnership with a housing provider outside Wales, targeting the North West of England where they already hold a growing customer base.
Who Is Rochdale Boroughwide Housing Limited?
Rochdale Boroughwide Housing Limited stands as the UK’s pioneering mutual housing society, uniquely co-owned by its tenants and employees. The organisation oversees more than 12,000 homes throughout Rochdale borough. It delivers comprehensive housing and community services, acting as a vital social landlord for residents.
Following a return to compliance with the Regulator of Social Housing last year, the society now eyes 2026 with renewed confidence. This funding aligns directly with their ongoing efforts to bolster services and foster thriving neighbourhoods.
Why Does This Mark a Milestone for Principality Commercial?
As reported in the official announcement, this partnership signals an exciting expansion for Principality Commercial into English markets. Jan Quarrington, Senior Portfolio Manager at Principality Building Society, stated: “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.” [ from context reference]
She further emphasised the mutual ethos: “As a mutual, we are honoured to partner with an organisation that shares our dedication in 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.”
Principality Building Society, as Wales’ largest, underscores its commitment through this commercial arm to broader UK social housing goals.
How Will the Funding Benefit Local Communities?
The £20 million will specifically target maintenance and upgrades for existing social and affordable homes in east Greater Manchester. This investment ensures stability and flexibility for Rochdale Boroughwide Housing amid pressing housing demands. Residents stand to gain from improved living conditions and sustained community support services.
Amanda Newton, Chief Executive at Rochdale Boroughwide Housing, commented: “We are 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.” [ from context reference]
She added: “Building on our return to compliance with the Regulator of Social Housing last year, it means we can look into 2026 with increased optimism as we deliver on our three-year Corporate Strategy, which has the needs of our customers firmly at its heart.”
What Broader Impact Does This Have on Social Housing?
This deal highlights a cross-border alliance between Welsh and English housing entities, both rooted in mutual principles. Principality Commercial’s entry into England’s social housing sector could pave the way for further partnerships. It addresses ongoing challenges in affordable housing provision, particularly in regions like Greater Manchester facing high demand.
The funding’s flexibility allows Rochdale Boroughwide Housing to prioritise tenant-focused initiatives. As the UK grapples with housing shortages, such collaborations exemplify how financial innovation from building societies can support public good.
Who Are the Key Figures Involved?
Jan Quarrington serves as Senior Portfolio Manager at Principality Building Society, driving this commercial expansion. Her statements reflect a strategic vision for growth beyond Wales. Amanda Newton, as Chief Executive of Rochdale Boroughwide Housing, leads the mutual society’s operational and strategic direction.
Both leaders share a commitment to affordability and community welfare. Their quoted endorsements, drawn directly from the announcement, underscore mutual alignment.
