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
Our new build mortgages have changed, we’ve launched Shared ownership and changed our criteria 🏠
Our Shared Ownership mortgages are available now.
And, following broker feedback, we’ve enhanced our new build proposition to make our new build mortgage offer more accessible for your clients.
Additional changes include:
- We’ll lend up to 95% on new build houses (90% for new build flats)
- We no longer net off builder’s incentives from the purchase price reducing the deposit required.
Important: Submitting an application on MSO
We wanted to give you and your clients the benefit of these changes as soon as possible.
So, while the MSO system is updated, please follow these steps when submitting a DIP.
95% New Build houses
- Select yes for both property has been found and it’s a new build.
- Case will then decline.
- Contact your local BDM who will appeal the decline which will unlock the case.
Builders gifted deposit
Select gift and not builder’s incentive when inputting the gifted deposit.
DIP Certificate
If you require a certificate, please contact your local BDM.