Principality Building Society has reduced rates on over 40 of its mortgages by up to 95 basis points (bps).
Products for first-time buyers have received the largest cuts, such as the joint borrower sole proprietor (JBSP) product at 90 per cent loan to value (LTV). The two-year fixed rate product has been reduced to 2.58 per cent from 3.53 per cent.
The lender’s Help to Buy England and Wales mortgages at 75 per cent LTV have also been reduced, including the two-year fixed deal which has gone down by 63 bps to 2.01 per cent.
Across its remortgages, the mutual has cut the two-year fixed product at 75 per cent LTV from 1.58 per cent to 1.48 per cent.
Morgan Miles, head of products at Principality Building Society, said: ‘’We’re pleased to be reducing rates across our mortgage range to support our brokers and customer needs.
“We hope the reductions on the Help to Buy England and Wales mortgages and joint borrower sole proprietor offering will further assist first-time buyers looking to get onto the property ladder.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
