Rate increases continue, including TSB and Leeds

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Lender repricing is picking up pace as the week draws to a close, with TSB, Principality, Leeds and West Brom joining others in mortgage rate changes, with most movements upwards.

TSB says it will be increasing prices by up to 15 basis points on residential product transfer and additional borrowing five-year fixed rates at 75% loan-to-value.

The lender will also be trimming 5 bps off residential two-year fixed rates for remortgage at up to 85% LTV.

Principality Building Society is also increasing rates tomorrow on a range of residential deals.

Among the most substantial changes, it is raising rates on its five-year fixed rate at 75% LTV with a £1,395 fee by 15 bps and the equivalent product with no fee by 10 bps.

The lender’s two-year fixed at 75% LTV is increasing by 14 bps.

At 65% LTV, a two-year fixed is going up by 13 bps and a five-year deal (with £1,395 fee) by the same margin.

Leeds Building Society is increasing rates on a large number of products across its residential range tomorrow, including for existing customers, new customers and additional borrowing.

The lender has published the new rates on its intermediary website ahead of the changes.

It shows that, for example, a two-year fixed rate for first-time buyers at 65% LTV with a £1,499 fee will rise from 3.89 to 3.94%.

West Brom, however, is lowering rates by up to 10 basis points on its core range and launching a new-build product.

The reductions include its two-year fixed rate at 95% LTV with a £999 completion fee, which is down from 4.76% to 4.68%.

It has also launched a new two-year fixed rate at 95% LTV priced at 5.09% with no fee.

These changes follow the announcement of rate increases from Santander and reductions from Fleet Mortgages, earlier today, as well as a newly expanded buy-to-let range from CHL.


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