Effective from Thursday 20 September, prices have been increased by up to 0.86% across Wave’s range of products.
Decisions in Principle on Wave’s existing products must be submitted by close of business on Wednesday 19 September. These will be honoured, provided a full application is received by close of business on Wednesday 26 September for direct submissions and Wednesday 3 October for packaged submissions.
Colin Snowdon, chief executive at Wave, said: “The trading conditions which all lenders currently find themselves in are unprecedented. We have been forced by circumstances which are not within our control to impose significant increases on our pricing, both to reflect the increased cost of funds and to ensure new business volumes do not exceed our appetite.
“We do appreciate that these changes will cause hardship for our distributors and their clients, but feel we have no other options available to us at the moment, given the continuing volatility of the capital markets.
“We will continue to monitor the situation carefully and will restore our normally competitive pricing as soon as we believe it is prudent to do so.”
Further product details are available on Wave’s website.
