Broker Bulletin: September 2024
An introduction
I’m Helen Lewis (Wiltshire) , the National Intermediary Manager for Principality Intermediaries .
I’ve been at Principality Building Society for over 17 years, during which I’ve had the privilege of meeting and speaking to many brokers who follow our page or have registered to place business with Principality Intermediaries.??
The Principality Intermediaries team and I are thrilled to see the growth of our LinkedIn page, and want to make sure our brokers don't miss out on our key updates throughout the month, so we're introducing the Broker Bulletin.
First time buyer research
We’ve been actively engaging with first-time buyers (FTBs) and know that the goal of home ownership has been increasingly challenging. Our partnership with VERVE , a global market research agency, allowed us to discover more about FTBs and the challenges they face as they take their first step into home ownership.
With FTBs facing affordability challenges in the current market, we’ve developed our first home steps app to help keep track of their budget and keep their savings on track.?
For a limited period, we’ve also enhanced how much a FTB can borrow increasing their loan to income to up to 5.5x which is available exclusively through mortgage brokers for a limited time only.?
In case you missed it...
7th what MORTGAGE Award Win! ?
We’ve taken home the what MORTGAGE Award for Best Customer Service for the 7th consecutive year. This award means so much to us because it's voted for by our valued customers.?Thank you for supporting us and we will continue to take your feedback on board.
Principality’s Boosts for FTBs ?
As our research has indicated, FTBs need a boost to make their first steps into home ownership. With our limited enhanced 5.5x?LTI, we can make even more possible for you and your first-time buyers. ?
MSO - Mortgage Sales Origination
MSO is our Mortgage Sales Origination platform where our brokers can place business with us. We introduced MSO to streamline the mortgage application process and give certainty to our brokers around our decisions.
Getting it right on MSO
Here are a few tips to help you when submitting an application for your first-time buyer clients using our limited edition LTI.?
1. The new LTI is only available for standard products and can't be used on non-standard products (e.g. joint borrower, shared ownership etc).
2. MSO uses a standard affordability calculator so will automatically decline the case.
3. Reach out to your local BDM who will make the enhanced calculation for you.?
4. We'll also accept overtime for your FTB cases as well as basic income.?
Connect with your local BDM
Contact your local BDM to discuss any cases physically, virtually or over the phone.
Upcoming events:
James Whitford and Zoe Jones at the PowerOf8 - Tuesday 22nd of October.
Jo Silcox and Cara Thompson at Simplybiz Mortgages Mortgage Showcase - Tuesday 22nd of October.