Our lending criteria can be as flexible as your customer's work style
Criteria that helps to break down income barriers
Traditional working patterns are changing and having a consistent regular income is no longer common place. At Principality Building Society, we assess each case on its own merits and our experienced underwriters take the time to understand and consider each individual case based on your customers’ needs.
Our criteria can help your customers that are:
We pride ourselves on being flexible for the self-employed, by accepting applications for those who have been self-employed for just 2 years. If the LTV is below 75%, we’ll accept the last year’s figures exclusively and if the LTV is greater than 75%, we’ll take an average of the last two years.
Customers that are sole traders, partners or part of a limited company can provide us accounts from within the last 18 months, not just the last 12 like many other lenders require.
View our blog on how we can help your self-employed customers by clicking here.
Whether your customers are just starting out in the medical industry or a locum doctor or bank nurse that work in numerous locations, we can help!
Newly qualified medical students can submit an offer letter confirming their start date and salary as proof of their income and we will accept the last 6 months earnings for locum doctors and bank nurses of which we will take an average.
View our blog on how we can help your customers in the medical profession by clicking here.
Day Rate Contractors
We don’t require three years of accounts, as long as the customer’s minimum annual income is £50,000 we will calculate the income using the day rate x 5 x 48 weeks.
View our blog on how we can help your contractor customers by clicking here.
Supply teachers, along with locums and bank nurses, are only required to provide 6 months proof of income which makes it easier to prove that your customer has a regular and sustainable income.
View our blog on how we can help your customers that work as teachers by clicking here.
We're here to help!
We realise that along with the complexities of your customer’s job, you both want a mortgage process that’s simple. Our lending decisions aren’t made by computers but people. We have experienced underwriters that take the time to understand and consider each individual case based on your customer’s needs. A dedicated underwriter will be on hand when you need them to make the process as easy as possible and to ensure you can give your customer a first class service.
Discover how we can help your customer by contacting your local Field and Desk Business Development Manager here or viewing our Lending Criteria for Other Incomes.
View our Lending Criteria here
*The above points are subject to lending criteria and affordability
We recently caught up with three local mortgage brokers, Thomas Honour from Thomas Honour Mortgage Services, Tom Willis from DHG Property Finance and Lee Saunders from Carter Lee Financial Services to find out their view on working with Principality. Click on their videos to hear about their experience.
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Useful Telephone Numbers
|Intermediary Desk BDM Team||0330 333 4021
|Broker Registrations||0330 333 4021
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|Case Updates||0330 333 4029
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