This will be open to people who have qualified as an accountant, actuary, architect, barrister, dentist, doctor, optometrist, pharmacist, solicitor, surveyor or a vet in the last five years.
It is available across its standard range on purchase and pound-for-pound remortgages and there is no minimum income requirement. For joint applications, just one applicant needs to be a newly qualified professional.
The product will be available to borrowers across England and Wales exclusively through the mutual’s registered brokers and broker networks.
Vicky Wales, chief customer officer at Principality Building Society, said: “For many of these young professionals, investing in their career has taken precedence over investing in property.
“By recognising that, we can help them achieve their goal of owning their own home and that’s why we’ve created a proposition to support newly qualified professionals onto the property ladder.”
In a busy summer for the mutual, Mortgage Solutions reported in August that Principality had recorded £728m in gross mortgage lending for the first six months of the year. Meanwhile, in June, Iain Mansfield was appointed as chief financial officer at the Building Society.
