Mortgage News
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.
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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.”