Principality Building Society is the 6th largest building society in the UK and the largest in Wales. We have a proactive approach when it comes to considering a case with specific criteria needs. Our team of mortgage experts will always work towards finding a solution that best suits your customer.
Help when you need it
The Principality Desk BDM team have direct access to underwriters and are your dedicated point of contact for new business enquiries. Along with full BDM coverage across England and Wales, Principality’s dedicated field-based Business Development Managers are always on hand to help.
Our 5 promises, we promise to:
- Give you 48 hours’ notice before we withdraw a product.
- Instruct your valuation on day one.
- Take a common sense approach and assess each case on its own merits
- Answer any queries before you submit your case via our Intermediary Support Team.
- Provide a dedicated underwriter for your case, who will always be on hand when you need them.
How can Principality help your clients?
- We can accept up to 4 applicants on an application using all 4 incomes
- We will consider applications for Non-EEA Nationals up to 90% LTV
- Our credit score is not driven by LTV or association
- We will consider day rate contractors, first time fixed term contractors, foster carers, supply teachers, locum Doctors, bank nurses and clients in probationary periods
- We will ignore salary deductions including pension contributions and child care vouchers
- Gifted deposits from family are acceptable
- We accept up to £500 in unsatisfied CCJs and defaults in years 1-6
- We will accept the latest years self-employed figures for cases below 75% LTV (including HTB)
New Build mortgage criteria
- We lend up to 90% on residential new build flats and houses across England and Wales
- We lend up to 75% on buy to let new build flats and houses across England and Wales
- We support the HTB scheme in England and Wales
- Extendable offer periods of 6 months 6 months
- We offer priority underwriting for new build applications
- All valuations are instructed on day 1
Buy to Let mortgage criteria
- Buy to Lets and Holiday Lets are available up to £750k at 60% and up to £500k at 75% LTV
- First time landlords are accepted
- We will offer a let to buy with no onward purchase
- Preferential stress rates are available for pound for pound re-mortgages and 5-year products
*The above criteria points are subject to full underwriting.
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