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
Mortgage Range Withdrawals – Effective 20th March
Our updated mortgage range will be live on our website 9am, Monday 23rd March 2026.
Most of our current range will be removed at 5pm, Friday 20th March 2026.
These ranges will not be removed: Residential mortgage at 95% LTV, Shared Ownership, Trackers and Holiday Let mortgages at 75% LTV.
Mortgage range changes include:
Rate increases
Residential (with and without fees)
- 2-year fixed 65%, 75%, 80%, 85% & 90% LTV products by up to 0.59%
- 3-year fixed 65%, 75%, 80%, 85% & 90% LTV products by up to 0.47%
- 5-year fixed 65%, 75%, 80%, 85% & 90% LTV products by up to 0.47%
Residential (with £500 cashback)
- 2-year fixed 65%, 75%, 80%, 85% & 90% LTV products by 0.59%
- 5-year fixed 65%, 75%, 80%, 85% & 90% LTV products by 0.47%
Residential (Help to Buy Wales)
- 2 & 5-year fixed 75% LTV products by up to 0.27%
Joint Borrower Sole Proprietor
- 2-year fixed 75%, 80%, 85% & 90% LTV products by 0.59%
- 5-year fixed 75%, 80%, 85% & 90% LTV products by 0.47%
Buy to Let
- 5-year fixed 60%, 70% & 75% LTV products by up to 0.40%
Holiday Let
- 2 & 5-year fixed 60% LTV products by up to 0.47%
We’re removing
Buy to let
- 5-year fixed 75% LTV fee free product
We’re introducing
Residential
- 5-year fixed 65% & 75% LTV products with £895 product fee
We’re increasing product fees
On these Buy to let products
- 2-year fixed 60% LTV product increasing to £8,000 product fee
- 2-year fixed 70% LTV product increasing to £10,000 product fee
- 2-year fixed 75% LTV product increasing to £10,000 product fee
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.