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Principality Building Society is the society where home matters. So when your customers find somewhere they love, our proactive approach to lending means we’ll make sure the keys fall into your customers hands as quickly and smoothly as possible.
We’re here to help!
We value the relationship we have with our brokers and we’re dedicated to helping you to do business with us as smoothly and efficiently as possible. Based on feedback about what’s important to our brokers, we made promises to the intermediary market that demonstrate how committed we are to making business with us as easy as possible.
We’re committed to delivering the best mortgage solutions for you and your clients whilst providing you with expert support from our Business Development Managers and Intermediary Support Team.
Why choose ?
We promise to:
How can Principality help your clients?
We can accept up to 4 applicants on an application using 100% of all 4 incomes.
We will consider applications for Non EEA Nationals with no LTV restrictions subject to VISA and UK residency requirements.
Our credit score is not driven by LTV or association.
We will ignore salary deductions including pension contributions and child care vouchers
Gifted deposits/equity from immediate family are acceptable
We consider up to £500 in outstanding CCJs and defaults registered within the last 6 years
We accept second residential applications up to 75% LTV
New Build mortgage criteria
Buy to Let/Holiday Let mortgage criteria
Other Income mortgage criteria
We will assess affordability using the income that is currently being received by the applicant. If this is Furlough Income, we will write to the employer to confirm the date that they will be returning to work, if there are any contractual changes such as conditions, hours and pay and that the employee is not under notice of redundancy
For self-employed we will assess affordability based on the average of income from the last two years is used, or the figure from the latest year where lower. Underwriters will assess the stability of the business, taking into account the Industry sector and likely impact of COVID– 19. Where appropriate Business Bank statements and Accountants Reference will be requested to evidence ongoing financial viability.
*The above criteria points are subject to full underwriting.