Principality intermediaries will withdraw a range of residential products tonight, while Metro Bank will reprice some home loans on Monday.
Principality Intermediaries said in a note to brokers that it would withdraw all two-year 65% loan-to-value and 75% LTV options at 5.30pm today.
New product information will be listed on its website starting at 9am on Saturday (January 18).
The lender added: “All other mortgage product codes will continue to be on sale until further notice.”
Meanwhile, Metro Bank will change prices on its residential range, including near-prime loans, jumbo loans and specialty offers, from Monday (January 20).
In the note, the lender said that to ensure the security of the current product, applications must be in pre-submission status at this time.
It added that brokers “will be provided with a list of documents required for our application.
“If these are not uploaded within 30 days, the case will automatically expire and the selected product will no longer be available.”
The company’s new prices will be published on its intermediary website’s Procurement Systems and Product Guide at 9am on Tuesday (January 21).
The moves come as swap rates rise amid turmoil in bond markets over the past two weeks.
According to Chatham Financial, the two-year swap rate rose to 4.245% on Jan. 15 from 4.142% a month earlier, while the five-year swap rate rose to 4.117% from 3.915% during the same period.
