Halifax and Principality BS raise rates, and Vida withdraws agreements to reprice.
Over the weekend, Halifax raised its remortgage rates for large loans, affordable housing with shared equity, and comparable green house products.
Its no-cost two-year fixed rate remortgage plan has a starting rate of 5.89% at 60% loan to value (LTV), and its equivalent with a £999 fee has a starting rate of 5.58%.
Prices for five-year fixed rates start at 5.41 percent, and their corresponding rates with fees start at 5.28 percent.
The lender’s 10-year fixed rate at 60% with no fees. LTV is 5.5%, while its variant with a £999 charge is 5.43.
Two-year fixed rates start at 5.83 percent and five-year fixed rates start at 5.53 percent in its large loan refinancing category, which has a charge of £1,499.
For individuals purchasing a home with an EPC grade of A or B, Halifax’s green home remortgage offers a £250 cashback incentive. It offers no-fee two-year fixed rates starting at 5.89%, fee-free five-year fixed rates at 5.41%, and no-fee 10-year fixed rates at 5.5%.
The lender’s two-year fixed rate, which is fee-equivalent, is priced from 5.58 percent, five-year fixed rate from 5.28 percent, and ten-year fixed rate from 5.43 percent.
Remortgages with shared equity start at 6.2 percent for a two-year fixed rate and start at 5.61 percent for a five-year fixed rate.
The lender has also extended its complete by dates for fixed rate and tracker remortgage packages by one month.
Vida will renegotiate and withdraw deals.
At the close of business today, Vida Homeloans will discontinue all of its products in anticipation of a complete relaunch tomorrow.
A broker note states that the lender would stop selling all of its products tonight at 6 o’clock.
Brokers must decide in principle on a product by today at 6 p.m. if they want to secure current deals.
The business said that by 6 p.m. on July 10th, all required documentation for cases already in the pipeline had to be uploaded, fees had to be paid, and the case had to be advanced to the application received stage.
It stated that the case would return to the DIP stage and a product from the new range would need to be chosen if necessary documentation are not submitted by the close of business on July 10th, regardless of whether fees have been paid or not.
“Exciting things are happening at Vida,” said Helen Cawthra, head of intermediary connections, “and we will be sharing more tomorrow alongside a full relaunch of our product range.”
Resi and buy-to-let rates are changed by Principality BS.
As of this morning at 9 a.m., the rates on a few residential and buy-to-let products offered by Principality Building Society have increased.
On the residential side, the lender is raising rates by 0.5% for two, three, and five-year fixed rates with an LTV of between 85% and 90%.
Additionally, it is restoring a five-year fixed rate at 90% LTV after withdrawing a two-year fixed rate at 95% LTV with cashback.
Two-year discount rates and two-year fixed rates between 60% and 75% LTV are rising for buy-to-let properties.
The country’s buy-to-let stress rate is increasing, going from 7.15 to 7.65 percent. The level of domestic stress will not change.