Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
TSB, Accord, Principality, and Precise have announced increases to various mortgage rates, while Principality and Foundation are also reducing some rates.
TSB is raising costs on product transfer and additional borrowing deals for both residential and buy-to-let borrowers. These fixed rates will increase by up to 15 basis points starting tomorrow.
Accord is also increasing prices for product transfers and additional loans, affecting both residential and buy-to-let customers, as well as some residential new business deals. All fixed rates for residential product transfers and additional borrowing will rise by 15 basis points, except for a five-year deal at 65% loan-to-value, which will increase by 20 basis points. Buy-to-let product transfers will rise by up to 10 basis points.
Principality is increasing some product transfer rates by up to 25 basis points, but is also reducing selected deals by 5 basis points. Some holiday let product transfers will decrease by 20 basis points.
Precise is relaunching deals on Friday with prices up to 20 basis points higher. In contrast, Foundation is lowering rates on Friday.
Barclays and Clydesdale also announced price increases yesterday.
These changes may impact letting agents and inventory clerks who work with landlords and property investors, particularly those considering refinancing or new borrowing.
Source: Mortgage Strategy