Principality to launch into Help to Buy in England

Michael Lloyd

May 2, 2018

From the end of May Principality will offer mortgages, through intermediaries only initially, to support those buying a new build property via the government-backed Help to Buy England scheme.

The society will be offering 5-year fixed-rates at 75% loan-to-value with a free standard mortgage valuation.

Ray Boulger, senior technical manager at John Charcol, said: “It’s always good to see another lender offer products and choice in that market.

“Their current fixed rates are competitive so the rates on this probably will be too. It would seem odd not offering it in Wales but England is the bigger market.”

Julie-Ann Haines, chief customer officer at Principality Building Society said: “We hope that these products will help to support a wide range of borrowers including first-time and next-time buyers to own their home.

“This goal is one that is very close to our own hearts, helping people to prosper throughout their lives.

“We’ve responded to broker feedback by introducing Help to Buy England products to our range of intermediary mortgages.

“We are focused on growing our business and continually review the products that we are offering to ensure we are relevant in the market place and providing the products that clients are looking for.”

Craig Hall, new build manager at Legal & General Mortgage Club, said: “Help to Buy has now assisted almost 160,000 completions to date in England.

“It is great to see Principality extending its participation in the scheme and further support its commitment to the new build sector.

“This follows recent proposition improvements including; six plus six (months) offers and 90% LTV on new build houses and flats.”

Sign up to our daily email