Market Harborough Building Society has lowered its SVR by 0.2% to 7.59%, while selected variable three-year fixed rates, tier two fixed rates and larger loan mortgage rates will fall by up to 0.45%.
All variable rates will fall by around 0.45%, while all three-year fixed rates, all tier two fixed rates within its UK residential range up to £3m and all fixed rates in its large loan range for cases up to £5m will decrease by 0.15%.
Pricing for its mortgage rates will start from 4.99% fixed and 5.34% variable for UK residential cases with a £1,495 fee.
Rates will also begin from 5.4% fixed and 5.75% variable for let cases up to 75% loan to value (LTV). This includes top slicing and lending into retirement.
The change to its mortgage rates will come into force on 1 July.
Aldermore Insights with Jon Cooper: Edition 4 – Budget 2025: Landlords feel the heat, brokers to steer the market
Sponsored by Aldermore
Iain Smith, Market Harborough Building Society’s head of mortgage distribution, said: “As the base rate continues to drop, we’re proud to pass on a reduction in our SVR to existing borrowers. And we’re going even further by significantly lowering our new business rates, opening the door for more clients, especially those seeking the flexibility of a variable rate or with complex circumstances.
“It will help us support even more clients, including expats, landlords, those with non-standard income, quirky properties or looking for a larger loan up to £5m.
“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.”
Earlier this month, the firm cut fixed rates by up to 0.2%.
Principality BS cuts mortgage and stress rates
Principality Building Society will reduce selected residential and buy-to-let (BTL) mortgage rates by up to 0.51% and lower its SVR, BTL and holiday let stress rate.
Within its residential range, two-, three- and five-year fixed rates between 65% and 90% LTV will be lowered by up to 0.49%. This includes fee-free and product fee deals.
Residential products with cashback, including two- and five-year fixed mortgage rates from 65% LTV to 90% LTV, will fall by up to 0.51%.
On the joint borrower sole proprietor (JBSP) side, two- and five-year fixed rates from 75% LTV to 90% LTV will decrease by up to 0.38%.
Five-year fixed BTL mortgage rates from 60% LTV to 75% LTV will go down by around 0.5% and two- and five-year fixed holiday let rates between the same LTV tiers will decrease by up to 0.2%.
Principality Building Society’s SVR will go down from 7.09% to 6.92%, and its BTL stress rate will decrease from 6.3% to 5.5%. The firm’s holiday let stress rate will come to 7.8%, having previously been 7.98%.
