The change takes effect from today.
Principality intermediary key account manager Emma Graham said: “At a time of rising house prices in some areas, and smaller deposits, we have been receiving an increasing demand from brokers for larger loan sizes, so this is a positive move in response to that.
“We will continue to identify ways to expand our product proposition to the market and provide our brokers and customers with greater choice.”
The lender has also recently introduced an extended offer period for new-build properties to six months initially, plus a further six months subject to status.
Graham continued: “We have taken this step because with new-build applications often borrowers want certainty, so the sooner in the process they can arrange their mortgage, the better.”
