Principality launches new broker rate switch facility

Principality Building Society has launched a new facility on its Mortgage Sales and Origination (MSO) system, which means product transfers can now be submitted online up to three months in advance.

The new process will mean easier transfers, with less paperwork and no need for wet signature, ensuring a faster turnaround time.

Many mortgage maturity products are fee free and have no legal costs or valuation fees.

Principality also offer procuration fees of 0.20% on all completed product transfers.

Earlier this week, Principality updated its mortgage lending criteria with changes for both buy-to-let and holiday let and lending into retirement age for residential mortgages.

Shaun Middleton, head of distribution at Principality Building Society, said: “We’re really pleased to be offering this great new service for our registered mortgage intermediaries.

"We pride ourselves on giving a great customer experience, and this new service will mean we can support even more people.”