Penrith Building Society
Penrith Building Society

Penrith Building Society

Founded in 1877 as a mutual building society to help local people look after their money and buy their own homes, the original seal read "Every Man His Own Landlord", and today, they still uphold that principle by providing savings accounts and mortgages for homebuyers.

Whilst still attached to its traditional roots as a non-profit organisation, they recognise that the consumers of today wish to transact differently to those of 141 years ago.

Whether that be electronically or via a third-party such as a mortgage intermediary, Penrith Building Society provide the same supportive level of service they always have done - ensuring that all those that wish to embark upon homeownership - are considered fairly.

Proc Fees

Product Gross Net
Fee Min Max Fee Min Max
All Products 0.35% + £25 £1000 0.35% £1000
Product Transfers 0.2% £750 0.19% £712.50
Product Type When does the lender pay PMS? Frequency
All Within 2 weeks Monthly

Lenders send payments by BACS which can take anything up to 5 working days to clear at PMS. PMS then make payment to brokers once the funds have cleared in our account.  


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Register to place business with Penrith Building Society:

*Please select that you are a PMS Mortgage Club member when registering, placing business or checking existing payment route to ensure you receive the procuration fee quoted by PMS.


Post Code Restrictions: Lender-InfoBoxWhite

The Society accepts mortgage applications from ALL intermediaries based within our heartland area (Cumbria, Yorkshire, Tyne & Wear, Northumberland, Durham & Lancashire).

Nationally, applications are welcomed from directly authorised advisors who are members of PMS – Diamond Club.

We lend on properties in England, Wales and mainland Scotland.

For a full list of postcodes, click here.

Key Features

  • Manual underwriting - credit search only
  • Expat BTL, Residential and Foreign Currency mortgages
  • First time landlord, first time buyer, non-owner occupier BTL, min earned £20k
  • Special Situations mortgages for adverse credit and recently self-employed

The Penrith Building Society can help you with the following:

  • Buy to let
    • First time landlords / First time buyer landlords
    • Top Slicing
    • Guarantor BTL
    • ICR 2 levels.  One for BRT and one for HRT payers
  • Holiday Lets
  • Flexible approach to affordability (will consider using customers own numbers as long as realistic)
  • Agricultural restrictions/ Local Occupancy 106 agreements (Refer to lender for consideration)
  • Shared ownership
    • Up to 90% LTV
    • Min share as low as 25% (min loan £50,000)
    • Will consider properties with restrictions on a case by case basis
  • New Build up to 85% on flats / 90% on houses
  • Self-Build
    • No set ‘stages’
    • Max 75% LTV on land and build costs
    • Interest only available throughout the build
  • No MAX age
  • Max term 35 years (on residential)
  • No credit score – only a search
  • Will consider ‘minor’ credit issues, with satisfactory explanation
  • Newly self-employed (12 months) with track record

No telephone queuing systems.  You will always get through to the same, small and friendly team.

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