"We continually review our products and criteria with customers and brokers at the heart of our thinking and further changes will be announced over the coming weeks."
- Tim Vigeon, head of products at Penrith Building Society
Penrith BS has launched three new two-year fixed rate products, all at 5.19%.
The Heartland purchase fixed rate has no application or product fees and allows borrowing up to 90% LTV, with a maximum loan of £500,000.
The National purchase fixed rate has no application fee and a £499 product fee, and also allows borrowing up to 90% LTV, with a maximum loan of £500,000.
The Heartland remortgage has no application or product fees and allows borrowing up to 80% LTV, with a maximum loan of £750,000.
In addition, the Society has announced a number of rate discounts and criteria changes across its existing range.
A three-year expat buy-to-let product now has a payrate of 5.59%, a discount of 2.40% from the Society's SVR, down from a previous rate of 7.23%.
A two-year discount Heartland remortgage product and a two-year discount National purchase product have both had the maximum LTV increased to 90% and the maximum loan size amended to £500,000.
As part of the changes, the Society has withdrawn selected shared ownership purchase and remortgage products.
Tim Vigeon, head of products at Penrith Building Society, said: “We are delighted and excited to introduce our fixed rate products to the market. The rates, combined with our common-sense underwriting will make the dreams of those wishing to buy a home or remortgage their existing home a reality.
"Our other changes reflect feedback that we have received and enhance our overall proposition within the market. We continually review our products and criteria with customers and brokers at the heart of our thinking and further changes will be announced over the coming weeks."
