Principality Intermediaries will pull a range of residential products this evening, while Metro Bank will reprice some of its home loans on Monday.
Principality Intermediaries says it will withdraw all of its two-year 65% loan-to-value and 75% LTV options at 5.30pm today, in a note to brokers.
New product information will be listed on its website from 9am on Saturday (18 January).
The lender adds: “All other mortgage product codes will remain on sale until further notice.”
Meanwhile, Metro Bank will change prices across its residential ranges, including near prime, large loans and professional offers from Monday (20 January).
To secure current products, the lender says in a note, applications must be at pre‑submission status by this time.
It adds that brokers “will be provided a list of documents we require for the application.
“If these are not uploaded within 30 days the case will automatically expire and the product selected will no longer be available.”
The firm’s new prices will be available on sourcing systems and product guides on its intermediary website from 9am on Tuesday (21 January).
The moves come as swap rates have risen in response to the turmoil in the bond markets over the last two weeks.
Two-year swap rates rose to 4.245% on 15 January from 4.142% a month ago, while five-year rates lifted to 4.117% from 3.915% over the same period, according to Chatham Financial.
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