Principality Intermediaries is set to make a series of changes to its mortgage offering, effective from tomorrow, Tuesday 11th March.
The adjustments include both rate reductions and increases across various mortgage products, affecting residential, buy-to-let, and specialist mortgages.
Several mortgage rates will be decreased.
Selected residential mortgage products will see reductions, including 2- and 3-year fixed 65% and 75% loan-to-value (LTV) products by up to 0.05%, 2- and 3-year fixed 80% LTV products by up to 0.04%, and 5-year fixed 85% LTV products by up to 0.02%.
The 2-year fixed 90% LTV product will decrease by 0.06%.
For residential mortgages with cashback, the 2-year fixed 65% LTV product will see a rate cut of 0.04%.
In addition, Joint Borrower Sole Proprietor (JBSP) mortgages will also benefit from reductions, including a 2-year fixed 80% LTV JBSP decrease of 0.03% and a 5-year fixed 85% LTV JBSP decrease of 0.02%.
Buy-to-let borrowers will also see some reductions, with the 5-year fixed 70% LTV product decreasing by 0.12%.
Conversely, Principality Intermediaries will be increasing rates on selected mortgage products.
Among the most notable changes, 5-year fixed residential mortgages will see hikes of up to 0.15% for 65% LTV, up to 0.12% for 75% LTV, up to 0.10% for 80% LTV, and up to 0.17% for 85% LTV.
The 5-year fixed 90% LTV product will increase by 0.11%, while the 2-year fixed 95% LTV product will rise by 0.25%.
Residential mortgages with cashback will also see some increases, including a 5-year fixed 65% LTV product rising by 0.02%, a 5-year fixed 75% LTV product increasing by 0.04%, and a 2-year fixed 90% LTV product increasing by 0.10%.
New-build mortgages will also be affected, with the 2-year fixed 95% LTV product rising by 0.25%.
Tracker mortgages will see an increase of 0.17% across the 2-year tracker products at 65%, 75%, 80%, and 85% LTV.
Principality’s JBSP mortgage range will also experience increases, with the 5-year fixed 75% LTV JBSP product rising by 0.10%.
Help to Buy (HTB) Wales products will see some of the highest increases, with the 2-year fixed 75% LTV HTB Wales product rising by 0.10% and the 5-year fixed 75% LTV HTB Wales product increasing by 0.35%.
Buy-to-let mortgage rates will rise as well, with the 5-year fixed 60% LTV product increasing by 0.08% and the 5-year fixed 75% LTV product rising by 0.25%.
Holiday let mortgages will also be impacted, with both the 2 and 5-year fixed 60% LTV holiday let products increasing by up to 0.13%.
