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Principality BS reduces five-year fix

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  • 28/10/2016
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Principality BS reduces five-year fix
Principality has cut rates on its five-year fixed rate residential mortgage range.

The society will offer rates starting from 2.20% on residential mortgages until November 2021.

The range of five-year fixed rate residential mortgages for 65-85% loan-to-value (LTV) all come with no product fee and free standard valuations, while remortgage customers will benefit from free legal fees.

 

Product Terms MAX Loan Value Initial Interest Rate APR Max LTV Product Fee
Fixed until 30/11/2021 £750,000 2.20% 3.8% 65% £0
Fixed until 30/11/2021 £650,000 2.30% 3.8% 75% £0
Fixed until 30/11/2021 £350,000 2.60% 4.0% 85% £0

 

Head of regulatory sales, Shaun Middleton, said the rate cuts are a response to growing broker sentiment leaning towards longer-term fixed products for their clients.

He added: “We appreciate that for most people their largest single monthly commitment is their mortgage and these longer-term products will help people to better control their finances.”

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