Principality Building Society has announced the launch of a new mortgage acquisition product range, which will be introduced on Sunday the 1st of October at 9am.
The society will be reintroducing its 2-year fixed rates at 75% loan-to-value (LTV) as well as its 2-year fixed 90% LTV product with cashback.
Principality is also set to decrease rates on select 75% LTV products by up to 0.28%, 80% LTV products by up to 0.28%, 85% LTV products by up to 0.24%, 90% LTV products by up to 0.86%, 95% LTV products by up to 0.27% and more.
In addition, the society also informed brokers of its plans to decrease its buy-to-let rates, including select 60% LTV products by up to 0.25%, 70% LTV products by up to 0.22%, 75% LTV products by up to 0.47%, 60% LTV Holiday Let products by up to 0.31% and 75% LTV Holiday Let products by up to 0.35%.
Principality’s Standard Variable Rate (SVR) will also be increasing to 7.60%, which is a 0.15% increase from the current 7.45%.
This also means that its residential stress rate will increase from 7.95% to 8.10%, and its stepped reversion rate will increase from 6.95% to 7.10%.
