The mutual sector has always been associated with community purpose, local branches and a member-first approach that feels a little different to the wider banking market. But despite respect for its heritage and values, it has not always received the sharp focus it deserves from brokers.
However, as the demands of a more complex market have brought its strengths into clear view, building societies are both holding ground and setting out a blueprint for growth and market leadership.
The Building Society Sector Growth Plan, launched in November 2025, sets out its trade body, the Building Societies Association’s, vision as part of the movement’s 250-year milestone. It is both a statement of intent and a practical call for change, aiming to give mutuals the tools to do more for borrowers, savers and communities.
The plan focuses on two key areas. First, better access to capital and second, a more balanced approach to capital rules, reflecting the lower risk profile of mutual lending. It is a simple argument: if the framework fits the model, the sector can expand its reach without losing what makes it different.
MUTUALS MATTER
Building societies account for 29% of the UK mortgage market and 37% of all first-time buyer lending. They serve 27 million members and contribute £7.2 billion to the UK economy each year. Their presence on the high street has also grown, now representing over a third of branches, at a time when many banks have stepped back.
Without shareholder pressure, mutuals can take a more nuanced view of risk, pricing and service. This allows the sector to support areas of the market that need careful underwriting, including self-employed borrowers, later life lending and complex income cases.
COMMITTED TO BROKER PARTNERSHIPS
For brokers, specialist lending is not just about product availability. It relies on judgement, flexibility and access to decision-makers. Building societies continue to invest in manual underwriting, giving brokers the chance to present the full story behind a case rather than rely on automated outcomes alone.
There is also a growing focus on improving the broker journey through digitised systems, faster processing and smarter use of data, while retaining the human balance. As cases become more nuanced, brokers need lenders who can combine policy clarity with real-world understanding.
The Building Societies Show, taking place on 21 April in Coventry, brings 36 societies together in one place, with a clear focus on intermediary engagement. The agenda reflects the challenges brokers are dealing with now. A keynote from the Building Societies Association will set out the sector’s role in 2026 and what it means for distribution.
Alongside that, sessions will cover first-time buyer affordability, later life lending, and the ongoing impact of the Renters Rights Act on buy-to-let advice.
There is also a strong focus on risk and resilience, including cyber security and the growing role of technology in the advice process. A dedicated session on broker tools, featuring Mortgage Brain, OMS, Knowledge Bank and PEXA, will look at what is working now and what comes next.
BUILDING FOR THE FUTURE
Time on the show floor will give brokers the chance to speak directly with lenders, test criteria, discuss live cases and build relationships with underwriting teams. In a market where detail matters, those conversations can make a real difference.
The event is also a reminder of how broad the specialist lending landscape has become. From later life borrowing to complex buy-to-let structures, brokers are expected to keep pace with a wide range of niches. Having a single space to step back, compare approaches and hear from different parts of the market is useful at a time when change feels constant.
As complexity grows, the value of experience, flexibility and strong relationships will only increase. Building societies are making their case for a larger role in that future, and the intermediary channel will be central to it.
It is hard to step away from your casework right now, but brokers looking to stay close to that shift should consider attending.
Register for The Building Societies Show here: https://buildingsocietiesshow.co.uk/#register
