Principality and Clydesdale adjust mortgage rates in UK

Principality Building Society is implementing mortgage rate increases across several product categories, including residential, buy-to-let, new-build, and joint borrower sole proprietor ranges. The most significant increase of up to 20 basis points applies to its two-year fixed Help to Buy Wales product at 75% loan-to-value (LTV). Other residential increases include up to 15 basis points for two-year fixed rates at 65% and 75% LTV, and up to 14 basis points for two- and three-year products at 90% LTV.

In the buy-to-let sector, five-year fixed rates at 60% LTV will rise by up to 15 basis points. While most rates are increasing, Principality is reducing the rate on one five-year fixed holiday let product at 65% LTV by 2 basis points.

Separately, Clydesdale is raising selected two- and five-year fixed Core Residential product transfer rates by up to 19 basis points. Meanwhile, Coventry has announced it will cut all fixed rates across its residential and buy-to-let ranges, though the specific scale of these reductions has not been disclosed.