Principality Building Society is set to implement a wide-ranging series of mortgage rate reductions across its residential, buy-to-let, and holiday let products, effective from 9:00am on Tuesday, 1st July 2025.
The current range of mortgage products will be withdrawn from the market at 5:00pm today, Monday 30th June 2025, ahead of the changes.
The revised mortgage range includes significant rate cuts for both fee-paying and fee-free products, offering more competitive options for homebuyers and landlords alike.
Residential customers will see rate decreases of up to 0.49%, depending on the loan-to-value (LTV) ratio and product term.
Notable reductions include a 0.29% cut to the 5-year fixed 65% loan-to-value (LTV) residential product with no product fee, a 0.49% decrease on the 2-year fixed 85% LTV residential product with a £895 fee, and a 0.42% drop in the 5-year fixed 80% LTV residential product with cashback.
Joint Borrower Sole Proprietor (JBSP) products have also been adjusted, with reductions up to 0.38%, while buy-to-let mortgages will see cuts of up to 0.50%.
Among the buy-to-let offerings, the 5-year fixed 75% LTV product without a product fee will see the largest drop.
Holiday let mortgage rates are also being reduced, with the 2-year fixed 75% LTV product falling by 0.18% and the 5-year fixed 75% LTV product by 0.20%.
In addition to product-specific rate reductions, Principality’s Standard Variable Rate (SVR) will decrease from 7.09% to 6.92%.
The stress rates applied to buy-to-let and holiday let mortgages will also be lowered, with the buy-to-let stress rate dropping from 6.30% to 5.50% and the holiday let stress rate moving from 7.98% to 7.80%.
Full details of the updated range will be available on the society’s website from 9:00am on 1 July 2025.
