Principality Intermediaries is set to reduce interest rates across a broad selection of its mortgage acquisition products, with changes set to take effect on Monday, 23rd June.
The adjustments will impact several product ranges, including residential, Help to Buy (Wales), joint borrower sole proprietor (JBSP), holiday let, and buy-to-let mortgages.
The most notable reductions will be within the residential range, where selected 2-, 3-, and 5-year fixed rate products across different loan-to-value (LTV) bands will see rate cuts of up to 0.20%.
Among residential mortgage products without cashback, Principality is decreasing rates on its 2-year fixed 65% LTV product (no product fee) by 0.04%, the 3-year fixed 65% LTV by 0.06%, and the 5-year fixed 65% LTV by up to 0.07%.
The 5-year fixed 75% LTV products will be reduced by up to 0.11%, while products at the 80% and 85% LTV tiers will see reductions of up to 0.08% and 0.10%, respectively.
The biggest drop comes in the 3-year fixed 90% LTV product, which will be lowered by 0.20%.
Residential mortgage products with cashback are also being adjusted, including a 0.05% rate drop on the 5-year fixed 65% LTV product.
Meanwhile, 2- and 5-year fixed 85% LTV products will fall by 0.10%, and the 2-year fixed 90% LTV will see the most significant cashback-related reduction of 0.25%.
In the Help to Buy (Wales) range, Principality is cutting the 2-year fixed 75% LTV product rate by 0.09%.
JBSP mortgage products are also being updated, with rate reductions of up to 0.20% on selected 2- and 5-year fixed products at the 85% LTV level.
Reductions of up to 0.15% are also being applied to equivalent 90% LTV offerings.
The lender is also decreasing rates on its holiday let mortgage range. The 2-year fixed 60% LTV product with a £895 fee will drop by 0.10%, while the same product with no fee will fall by 0.08%.
The 5-year fixed 60% LTV product with no fee will also be reduced by 0.10%.
In its buy-to-let range, Principality is reducing the 2-year fixed 60% LTV product with a £2,499 fee by 0.05%.
