Market Harborough Building Society has reduced its monthly short-term interest rate by up to 0.02%.
ALEX HANNAM PHOTOGRAPHY Harborough Building Society 25.04.2024 07903 169347 [email protected]
The specialist lender’s bridging finance rates now start at 0.62% variable and 0.66% fixed for LTV up to 50%. Also 0.68% variable and 0.72% fixed for an LTV between 50.01% and 60%; and 0.74% variable and 0.78% fixed for an LTV between 60.01% and 70%.
Rates are approximate, with interest calculated daily.
Commenting on the changes, Iain Smith, head of mortgage distribution at Market Harborough, said: “We are listening to the needs of our broker partners and are pleased to be able to reduce our monthly bridging finance rates.
“This, combined with the improvements we made at the beginning of September, means that our short-term financing is now even more accessible to our partners and their customers.”
The Principality will reduce rates for a number of products on October 7.
For residential mortgages, discounts of up to 0.08% apply to selected two-, three- and five-year fixed 65% LTV products. For selected two-, three- and five-year fixed 75% LTV products with a maximum of 0.11% and for three-year fixed 80% LTV products with 0.08%.
For buy-to-let mortgages, the lender’s 60% five-year fixed LTV mortgage has been reduced by 0.10%.
In terms of retail cashback mortgages, Principality is reducing its five-year fixed 65% LTV product by 0.08% and its two- and five-year fixed 75% LTV products by up to 0.10%.
The lender is also raising some rates. For residential mortgages, the two- and five-year fixed 80% LTV products increase without fees by a maximum of 0.05%; and two- and five-year fixed 80% LTV JBSP products with up to 0.05%.
For buy-to-let mortgages, the selected five-year fixed 70% LTV and 75% LTV products both increase by 0.05%.