Effective from tomorrow (Tuesday 18th February), Principality Intermediaries is set to introduce significant changes to its mortgage range.
These adjustments will see the reintroduction of several residential mortgage products, as well as rate increases across selected mortgage offerings.
The lender is bringing back its 2-, 3-, and 5-year fixed residential mortgage products at both 65% and 75% loan-to-value (LTV) ratios.
Additionally, a 2-year fixed 95% LTV product, including options for new-build properties, will be reintroduced.
At the same time, some rates across the residential mortgage portfolio will see increases.
The society’s 2- and 3-year fixed 80% LTV products will rise by up to 0.08%, while its 5-year fixed 80% LTV product will increase by up to 0.25%.
Borrowers opting for a 2-year fixed 85% LTV product will see a rise of up to 0.13%, and those selecting a 5-year fixed 80% LTV mortgage will experience an increase of up to 0.42%.
Similarly, Principality’s 3- and 5-year fixed 90% LTV products will see rate hikes of up to 0.10%.
In its buy-to-let mortgage range, the lender’s 5-year fixed 60% LTV product will see a rate increase of 0.09%.
Meanwhile, residential mortgages with cashback options will also be affected.
The 5-year fixed 80% LTV product will increase by 0.21%, the 2-year fixed 85% LTV product by 0.20%, the 5-year fixed 85% LTV product by 0.40%, and the 5-year fixed 90% LTV product by 0.10%.
For those seeking a Joint Borrower Sole Proprietor (JBSP) mortgage, the 2-year fixed 80% LTV JBSP product will see a rate increase of 0.03%.
The 5-year fixed 80% LTV JBSP product will rise by 0.25%, the 2-year fixed 85% LTV JBSP product by 0.13%, and the 5-year fixed 85% LTV JBSP product by 0.42%.
Additionally, the 5-year fixed 90% LTV JBSP product will see a rate increase of 0.10%.
Principality will also be adjusting its Standard Variable Rate (SVR).
Effective from 1st March 2025, the SVR will decrease from 7.26% to 7.09%, offering potential relief to customers on variable rate deals.
