For loans between £3m and £5m, tier one variable, two-, three- and five-year rates have been reduced by 0.21%, while tier two rates have fallen by 0.26%.
Market Harborough Building Society has also lowered tier three rates by 0.11%.
Standard residential rates for loans up to £3m remain unchanged.
The mutual’s larger loan rates now start from 5.19% fixed and 5.24% variable for tier one cases, with a fixed product fee of £2,495.
Iain Smith, head of mortgage distribution at Market Harborough Building Society, said: “Our latest rate reductions across our larger loan range open the door for more clients looking to borrow between £3m and £5m. It ensures we’re well-positioned to support those borrowers with both simple and more complex circumstances, including high-net-worth individuals.
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“We’re always listening to broker feedback, and these cuts are part of our promise to stay responsive, flexible and easy to do business with.”
Principality BS lowers selected rates
Principality Building Society has made rate reductions of up to 0.17% to some of its mortgage rates.
This includes price changes to its two-, three- and five-year fixed residential mortgages up to 90% loan to value (LTV). Reductions apply to products with a fee, no fee and with a cashback incentive.
The mutual has also lowered two-year tracker rates at 65-85% LTV by 0.1%, and new-build product rates have been reduced by up to 0.17%.
Rate cuts have been made to Principality Building Society’s joint borrower sole proprietor (JBSP) mortgages, affecting its five-year fix at 75% LTV, the two-year fix at 85% LTV and the five-year fix at 90% LTV.
On the investor side, its five-year fixed buy-to-let (BTL) product with no fee at 60% LTV has been lowered by 0.05%, while the five-year fix at 70% LTV with a £1,395 fee has gone down by 0.12%.
Also, its two-year fixed holiday let rates at 60% LTV have been reduced by 0.1%, fee-free five-year fixes at the same tier by 0.12%, and fee-free five-year fix at 75% LTV by 0.11%.
These changes will apply from 17 October.
Earlier this month, it was announced that Principality Building Society’s CEO Julie-Ann Haines would be departing the role and would be replaced by Iain Mansfield.
