Principality relaxes lending criteria to support supply teachers and bank nurses
Principality Building Society will now consider mortgage applications for customers working as supply teachers and bank nurses across England and Wales subject to six months’ proof of income.
The change in lending policy comes after a surge in enquiries from both professions.
Emma Graham, national account manager at Principality Building Society, said: “We take more than 1,200 calls on our intermediary support desk every week and have noticed a marked increase in mortgage enquiries for supply teachers and bank nurses.
“Some lenders have a cautious attitude towards supply teachers, however, we’ve decided to take a more flexible approach towards people who can prove they have at least six months proof of income. Eligible people will be able to apply for mortgages across our range.”
Barry Jeans, mortgage broker at Medical Professional Investment, added: “Principality consistently demonstrates flexibility for customers by offering an individual assessment of their applications.
“They have a unique understanding of the mortgage needs of professionals and I’m delighted to see them start supporting these new areas of the market.”