Brilliant Solutions

Progressive Building Society Update

Progressive Building Society have announced some forthcoming changes.  See below for details.  For current product information, lending criteria etc their intermediary website can be accessed here  REMEMBER, you can also speak to our dedicated Specialist team for more information or guidance.

New Mortgage Package wef 12.10.21

Please find attached revised mortgage package which will take effect from 12th October 2021.   

You will note the main changes are as follows:

  • 2 year variable rates for House Purchase at 60%, 75% and 80% LTV improved
  • Selected 2 year fixed rates for House Purchase improved
  • 2 year variable rates for Remortgage at 60%, 75% and 80% LTV improved
  • Selected 2 year fixed rates for Remortgage improved
  • Floored rate introduced to selected variable products 

The Society is introducing a floored interest rate of 0.50% to all new discount variable rate products in our house purchase and remortgage range.  In the future, as we amend further discounted variable products, we will introduce the floored rate to these products too, but in the meantime only the new products highlighted in red on the attached package will have a floor.  Please amend your records accordingly and attach a note to these products that the interest rate payable will not go below a floor of 0.50% during the initial discounted period.

Mortgage Package Spreadsheet

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