Principality has market-leading 95% Mortgage to boost the Welsh housing market

Principality, Wales’s largest building society, has announced the launch of a brand new 95% LTV mortgage product that will lend up to 95% Loan To Value, to help Welsh First Time Buyers and those with limited deposits in Wales to get onto the property ladder.
The product has been designed to meet the needs of those with lower deposits and less funds available, so there are no product fees and there will be no tightening of the lending criteria.
The product also has a five year fixed rate, which gives buyers the security of a fixed payment for the significant future, allowing them to realistically budget.
The Principality has a branch at the St Elli Shopping Centre in Llanelli.
Christopher Johnson, Head of Mortgages at Principality said: “As a leading Welsh mutual that serves a community of members, we are committed to coming up with practical solutions to benefit Welsh people. The shortage of mortgage products realistically available to those with a low deposit has been a major stumbling block for first time buyers and we hope that this product provides an opportunity for them to own a high quality, affordable home.
“We took advantage of the Funding for Lending Scheme with our members in mind, and will be looking at ways like this to pass on the benefits of cheaper funding. A lot of lenders have taken the opportunity to slash rates for those with high deposits, leaving First Time Buyers out in the cold. We have made this product as easy to access as possible, and we are committed to offering this mortgage at the best possible rate to the people in our heartland. We will continue to develop innovative products like this to stimulate the Welsh housing market and drive the economy forward.”

Product specifications

5 Year Fixed Rate
Repayment only
4.99% to 28.02.18
No Product Fee
£99 Commitment Fee
Maximum Loan size of £250,000
5% ERC until 28.02.18
95% Maximum LTV
5.1% APR
Only Available in our core territory*
Only available through Branch, and Telephony channel

Only Available in our core territory. Core Territory is Wales & post code areas SY,HR CH1,CH2,CH3 & CH4
Only available through Branch, and Telephony channel

Formed in 1860, Principality is Wales's largest building society.
The Society is committed to supporting the communities of Wales, with 53 branches and 16 agencies in Wales.
Principality is the 7th largest building society in the UK.
The Society has assets of more than £6 billion.
Principality is committed to remaining a mutual organisation.

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