The lender has reduced most rates across its standard and RIO LiveMore 1 to LiveMore 4 products, with cuts of up to 0.49% on RIO and 0.43% on standard.

Rates now start from 5.48% on standard mortgages which include: Standard Capital & Interest, Standard Interest only and Part & Part.

From 23 June Principality for Intermediaries is making rate changes to its mortgage range.

Changes include decreasing some rates on selected residential mortgages, such as two-year fixed 65% LTV product (with no product fee) cut by 0.04%; three-year fixed 65% LTV product by 0.06%; five-year fixed 65% LTV products by up to 0.07%; five-year fixed 75% LTV products by up to 0.11%

Also two-year fixed 80% LTV product (with no product fee) by 0.05%; five-year fixed 85% LTV product (with no product fee) by 0.10%; and 5-year fixed 90% LTV products by up to 0.16%.

For selected residential mortgages with cashback, Principality is cutting rates on its five-year fixed 65% LTV product by 0.05%;  two-year  fixed 90% LTV products by 0.25% and five-year fixed 90% LTV products by 0.10%

Selected joint borrower sole proprietor mortgages are seeing rate cuts – for instance five-year fixed 75% LTV product by 0.06%; and two and five-year fixed 85% LTV products by up to 0.20%.

Also for selected Buy to Let mortgages, Principality  is reducing rates on its two-year fixed 60% LTV product (with £2499 fee) by 0.05%