Progressive Building Society
The Progressive Building Society was founded in 1914 when five smaller societies merged together.
The society’s growth was initially rather slow, but once Hugh Brown took over in 1940, the Progressive Building Society thrived. By 2010, the Progressive had an extensive branch and agency network across Northern Ireland catering for the smaller communities, and in 2014 it merged with the City of Derry Building Society in order to benefit more members.
Today the Progressive Building Society’s balance sheet is worth more than £1.6 billion and the society is an important part of the Northern Ireland community.
Services include savings accounts, mortgages and insurance products. The society also offers an e-savings facility for customers with online access.
Customers with the Progressive Building Society can choose between fixed rate mortgages, variable rate mortgage, standard variable rate mortgages, and self-build products. The Progressive website features a mortgage calculator, which can help customers work out what their payments would be.
Fixed rate and variable rate Progressive BS mortgage products are available.
Mortgages with a loan to value above 90%
may be subject to a higher lending charge in the form of an insurance policy to protect the lender against default and re-possession. The cost of this can be added to a customer’s mortgage account.