Principality Building Society has introduced a series of changes to its mortgage product offerings, with new rates coming into effect on Monday 2nd December at 9:00am.
Adjustments include reductions across various fixed-rate and tracker mortgage options, as well as an increase on one product.
The reductions cover a wide range of products, including residential, buy-to-let (BTL), and holiday let borrowers, among others.
For residential mortgages, rate decreases of up to 0.10% will apply to 2-, 3-, and 5-year fixed products across different loan-to-value (LTV) categories, including 65%, 75%, 80%, 85%, and 90%.
Residential products with cashback will also see reductions of up to 0.08% across multiple LTV bands.
In the tracker mortgage range, rates for 2-year fixed products at 65%, 75%, 80%, and 85% LTV are being reduced by 0.25%, which may appeal to borrowers looking for greater flexibility.
For Joint Borrower Sole Proprietor (JBSP) mortgages, adjustments include reductions of up to 0.26% for 2- and 5-year fixed products across LTV ranges of 75% to 90%.
Meanwhile, buy-to-let mortgages will see decreases of up to 0.08% on 5-year fixed products at 60%, 70%, and 75% LTV.
Holiday let products are also part of the updates, with reductions of up to 0.15% for 2- and 5-year fixed mortgages at 60% and 75% LTV.
While most adjustments involve rate decreases, there is one increase in the portfolio: the 5-year fixed 90% LTV residential mortgage with cashback will see its rate rise by 0.04%.
Full details, including the updated product grid and rate guide, will be available on the society’s website at the time of the launch.
