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’re making changes to our mortgage range from 9am, Friday 13th March
Our updated mortgage range will be live on our website 9am, Friday 13th March 2026.
Our current range will be removed 5pm, Thursday 12th March 2026.
Mortgage range changes include:
Rate increases
Residential
- 2, 3 & 5-year fixed 65%, 75%, 80%, 85% & 90% LTV products by 0.20%
Residential (with £500 cashback)
- 2 & 5-year fixed 65%, 75%, 80%, 85% and 90% LTV products by 0.20%
Residential (Help to Buy Wales)
- 5-year fixed 75% LTV products by 0.20%
Joint Borrower Sole Proprietor
- 2 & 5-year fixed 75%, 80%, 85% & 90% LTV products by 0.20%
Buy to Let
- 5-year fixed 60%, 70% & 75% LTV products by 0.20%
Holiday Let
- 2 & 5-year fixed 60% LTV products by 0.20%
5-year fixed 75% LTV product by 0.13%
We’re introducing
Residential
2-year fixed 95% LTV products (with £2500 product fee – this cannot be added to your loan).
We’ve introduced NEW income boosts for your clients
Following broker feedback, we’re introducing new income boosts to help your clients with their affordability.
Here’s a snapshot of our updated criteria*:
Universal credit
- We accept universal credit at 100%.
- At least 1 applicant must have an earned income.
- We will accept the standard allowance and child’s allowance Including childcare costs (if applicable).
We will not accept:
- These universal credit elements – housing, health costs, energy savings home improvements or prison visits; and
- If the benefit income is in joint names (with the other person not on the mortgage application or is a non-borrowing occupier).
Child benefits
- We accept 100% of child benefits.
- This can only be considered alongside a maximum income of £60,000.
- A Department of Work & Pensions (DWP) child benefit letter is required alongside income evidence.
Zero hours contractors
We require:
- A minimum of 12 months’ consistent income and continuous employment with the same employer; and
- Income evidence including the last 2 P60 documents, last 3 months’ payslips and most recent bank statement.