Principality creates products to help people get on property ladder

PRINCIPALITY Building Society is to launch mortgage products to help more first-time buyers in Wales.

Wales’ largest building society is committed to helping the Welsh Government’s Shared Ownership Wales scheme, launched earlier this year. The scheme is designed to be suitable for individuals with a small deposit and who are able to obtain or can afford a mortgage on a share of the property.

Principality has a longstanding association in helping the housing agenda for Help To Buy Wales. Last year its commercial team helped to fund £50m of loans for housing associations to help create more affordable housing options for communities across Wales.

Julie-Ann Haines, chief customer officer at Principality Building Society, said: “We have a strong working partnership with the Welsh Government and have worked hard to ensure that government widened its support to offer a consistent ownership approach in Wales. I am delighted that we are launching mortgage products tailored to help the Shared Ownership Wales scheme.

“Last year we helped more people to own their own homes than ever before. We are committed to helping people in our communities into more affordable housing across Wales.

“We hope that these products will help to support a wide range of borrowers including first-time and next-time buyers to own their home. This goal is one that is very close to our own hearts – helping people to prosper throughout their lives.”