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First-time buyers 'key'

Principality's results for 2012 show that lending has reached an all-time high.

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Principality hopes 95% mortgage will boost housing market

Wales' biggest buildng society, the Principality, says last year saw new loans totalling over £1bn.

It's reporting a pre-tax profit of just over £25m.

It says that first-time buyers are key to stimulating the housing market and supporting the economy. The society claims lending to this group has increased by a third and hopes it's new 95% mortgage for the group will help boost the housing market.

Graeme Yorston is the Group Chief Executive for Principality:

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