Effective from tomorrow (Tuesday 14th January), Principality Building Society will offer reduced mortgage rates across various product ranges.
The most notable reductions apply to residential mortgages, as rates on selected 2-, 3- and 5-year fixed products have been decreased by up to 0.30% for loan-to-value (LTV) ratios between 65% and 90%.
Borrowers opting for residential products with cashback incentives can also benefit from rate reductions of up to 0.25%, depending on the LTV tier and product term.
Similarly, for new-build residential mortgages, the 5-year fixed product at 95% LTV sees a rate reduction of up to 0.15%.
Shared Ownership mortgages have also seen adjustments, with rates on 2- and 5-year fixed products at 95% LTV reduced by up to 0.17%.
Meanwhile, Help to Buy Wales customers can benefit from reductions of up to 0.19% on 2- and 5-year fixed products at 75% LTV.
The changes extend to specialist products such as Joint Borrower Sole Proprietor (JBSP) mortgages.
For these, rate reductions include up to 0.37% for 2- and 5-year fixed products at 75% LTV, with other tiers and terms seeing reductions of up to 0.25%.
Buy-to-let and holiday let mortgage rates have also been adjusted.
The society’s 5-year fixed buy-to-let product at 60% LTV will see reductions of up to 0.21%, with the 70% LTV product reduced by up to 0.17%.
Holiday let mortgages will feature some of the most significant reductions, with rates on 2- and 5-year fixed products at 60% LTV decreased by up to 0.31%.
The 5-year fixed product at 75% LTV will see a reduction of 0.30%.
