Market Harborough Building Society has reduced its monthly short-term interest rate by up to 0.02%.
Specialist lenders' bridging loan rates currently start from 0.62% variable and 0.66% fixed, with LTVs up to 50%. Also, for LTV 50.01% to 60%, variable 0.68%, fixed 0.72%. For LTV 60.01% to 70%, the rate is 0.74% variable and 0.78% fixed.
Interest rates are approximate values that take into account daily interest rates.
Commenting on the changes, Ian Smith, Head of Mortgage Distribution at Market Harborough, said:
“This, coupled with the enhancements we made in early September, means our short-term financing is now even more accessible to our partners and their customers.”
The Principality will reduce prices on many products on October 7th.
For home loans, there is a reduction of up to 0.08% for selected 2-, 3-, and 5-year fixed 65% LTV products. Up to 0.11% for selected 2-, 3-, and 5-year fixed 75% LTV products and 0.08% for 3-year fixed 80% LTV products.
For buy-to-let mortgages, the lender's five-year fixed 60% LTV mortgage has been reduced by 0.10%.
For residential cashback mortgages, Principality will reduce its five-year fixed 65% LTV products by 0.08% and its two-year and five-year fixed 75% LTV products by up to 0.10%.
Lenders are also increasing some interest rates. For home loans, fee-free 2-year and 5-year fixed 80% LTV products are up to 0.05% higher. 2-year and 5-year fixed LTV 80% JBSP products increase by up to 0.05%.
For mortgage buydowns, selected 5-year fixed 70% LTV and 75% LTV products are both up 0.05%.