Tag: Principality Building Society
-
Fewer High-LTV Mortgages Available
The UK mortgage market has seen some changes, particularly for those looking to borrow with a smaller deposit. According to recent data from Moneyfacts, a leading financial product analyst, several high-loan-to-value (LTV) mortgage options have been pulled from the market in the last week of May. However, despite these withdrawals, the variety of available mortgage…
-
Welsh Housing Market Takes a Dip – Prices and Sales Decline
The Welsh housing market has experienced yet another decline. According to the latest data from the Principality Building Society, house prices in Wales have fallen for the fifth consecutive quarter. As of March 2024, the average house price stands at £229,263, marking a significant 6.5% decrease from the previous year. The downturn in housing prices…
-
Mortgage Rate Hike Alert
Santander, Halifax, NatWest, the Co-operative Bank, and Principality Building Society have all declared they’ll be hiking their mortgage rates this week. This comes as a bit of a shock, especially since Santander has been known for offering some of the most competitive rates on the market. For instance, Santander’s cheapest two-year fix rate will jump…
-
House Prices in Wales Hit Lowest Since 2009
House prices in Wales have plummeted, marking their most dramatic drop since the financial crisis of 2009. As of the end of 2023, the average house price stood at £234,000, a 6% decrease from the record highs seen just a year earlier. This downturn represents not just a momentary dip but a consistent trend, with…
-
Principality Building Society Cuts Rates
In a welcome move for homebuyers and property investors, Principality Building Society has announced significant rate reductions on its mortgage products. This change affects both residential and buy-to-let mortgages, making it a crucial update for anyone in the housing market. Residential Mortgages If you’re looking to buy a home, here’s what you need to know:…
-
Bath and Principality Building Societies Cut Rates
Principality Building Society, based in Cardiff, has announced a significant cut in residential and landlord rates, effective from 28 November. These reductions are quite substantial, ranging up to 23 basis points (bps). But what does this mean for you as an investor or homebuyer? Key Reductions in Residential Rates: Buy-to-Let (BTL) Offers Adjustments: Bath Building…
-
More Mortgage Lenders Slash Rates in Ongoing Price War
The UK’s property market is witnessing an intense competition among mortgage lenders, with major players like Santander and Skipton making significant cuts to their mortgage rates. This move, seen by many as a reflection of the ongoing price war in the mortgage industry, is great news for prospective buyers and investors. It indicates more affordable…
-
Wales’ Home Values Take a Dip: First Time in a Decade
The residential property market in Wales is experiencing its first year-on-year decline in house prices in ten years. According to research from Principality Building Society, the average cost of a home in Wales receded to £239,378 in the third quarter of 2023. This rate is not only a 1.1% decrease from the previous quarter but…