Here is the latest update from the Principality Building Society. For full details download/ see their latest product bulletin here. Criteria information is available here. Access these product via our direct to lender mortgage club and get the benefits of payment on completion.
Principality Announcements
We’ve enhanced our non-EEA criteria!
Following broker feedback, we’ve made changes to our mortgage lending criteria for non-EEA nationals.
We’ve reduced the length of time an applicant needs to have been a UK resident and reduced the time remaining required on an applicant’s visa.
We now also allow up to 95% loan to value (LTV) for EEA and non-EEA applicants*.
And, for joint applications only one applicant needs to meet our visa criteria.
*Subject to applicant successfully passing credit check.
Important: Submitting an application on MSO
We wanted to give you and your clients the benefit of these changes as soon as possible.
So, whilst the MSO system is updated to accept these changes, you’ll need to input the UK address history as 3 years even if it’s less
We’ll let you know as soon as MSO is updated.