Principality Building Society will cut residential and landlord rates by up to 23 basis points, while Bath Building Society has repriced loans across its home purchase, rent a room and buy-to-let ranges.  

The Cardiff-based mutual says its reductions, which take effect tomorrow (28 November), cover:   

Residential offers  

• Select 75% loan to value products down by up to 22bps  
• Select 90% LTV products down by up to 14bps  
• Select 95% LTV products down by up to 23bps  

BTL offers   

• Select 60% LTV product down by 15bps  
• Select 70% LTV product down by 15bps  
• Select 75% LTV product down by 10bps  

The lender says the range will hold its February end dates, while all previous loan codes will be removed from sale at 8pm on 27 November.  

Meanwhile, Bath Building Society has introduced new rates across selected residential, rent a room and landlord ranges.    

Highlights of its changes include:  

• Residential five-year 80% LTV loans at 5.09%   
• Rent a room two-year 85% LTV loans at 6.09%  
• BTL limited company five-year 80% LTV loans at 6.74%   
• Holiday Let two-year 75% LTV loans at 7.14%  
• Multi-unit freehold block limited company five-year loans at 6.94%   

On Principality Building Society, John Charcol mortgage technical manager Nicholas Mendes says: “Despite swaps ending the week slightly up on the previous day, it is good to see Principality making another weekly repricing following the previous on 20 November.  

“The latest bringing the higher LTV products closer to the 5% benchmark.”  

On Bath Building Society, Mendes adds: “It’s not often Bath Building Society reprice their products, but these latest rates are encouraging, particularly their residential and rent a room product.  

“Rent a room is a great proposition, which allows the extra income from renting out the room to boost your affordability.”