Principality Building Society is launching a new mortgage acquisition product range as well as cutting existing residential and buy-to-let (BTL) rates.
The lender has announced it is reintroducing residential two-year fixed rates to its 75% and 90% LTV range from 1 October.
In addition, it is also decreasing the rates of selected residential products at 75% LTV and 80% LTV by up to 0.28%.
Resi rates at 85% LTV will be cut by up to 0.24%, while selected products at 90% LTV products will be reduced by up to 0.86% and 95% LTV by up to 0.27%
The building society will also reduce 90% LTV joint borrower sole proprietor (JSBP) products by up to 0.51%.
Finally, it will cut rates across its buy-to-let range.
Selected 60% LTV products will be reduced by up to 0.25 %, 70% LTV products by up to 0.22% and 75% LTV products by up to 0.47%.
John Charcol mortgage technical manager Nicholas Mendes said it was ‘fantastic’ to see the lender making some ‘considerable cuts’.
