Three months on from Principality Building Society announcing key affordability updates, internal modelling on a range of household demographics – such as families and first-time buyers – has indicated that the updates allow homebuyers to borrow over 30% more for their mortgage.
Following the change, Wales’ largest building society also introduced a new affordability calculator, which gives brokers a clearer view of their client’s borrowing potential. This calculation remains consistent across both the website and Principality Building Society’s MSO platform.
The firm has also updated most sourcing platforms, which gives brokers the maximum benefit of the affordability changes.
Helen Lewis (pictured), national intermediary manager at the firm, said: “The change to our affordability model provides brokers more flexibility when placing business with Principality. Alongside this, the updated online affordability calculator is the latest addition to help enhance the digital experience for brokers, providing a user-friendly experience and clarity that the amount calculated is correct and consistent.”
Last month, the firm reported that its residential lending reached £11.1bn in 2025.
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