TSB Mortgage Rate Reductions Announced
Today, new TSB mortgage rate reductions have been announced, the latest of many UK mortgage lender’s reducing their product rates as stability returns to the mortgage market. Over the last few weeks we have sensationally seen many of the UK’s mortgage lenders, including some of the big six UK banks and building societies, reducing their rates. With some even dropping below 4%. The first time this has happened in several years now. In a message sent out to our advisors at Oportfolio Mortgages, TSB have announced that they will be making some significant changes to the mortgage rates they offer. Earlier in the month I predicted that we would start to see many more lenders jumping on the ‘rate reduction bandwagon’, and I think this only strengthens my prediction. Let’s take a look at the changes from TSB and also from another UK mortgage lender.
New TSB Mortgage Rate Reductions
TSB announced to brokers this morning that they would be making some great rate reductions across their residential mortgage and buy-to-let mortgage offerings. These reductions are likely to not only make borrowing more affordable for people looking to finance their home, but will also make return on investment much more profitable for buy-to-let landlords too, in my opinion. Here are the changes announced:
TBS Are Withdrawing
- 3 Year Fixed First Time Buyer and Home Mover 90-95% LTV £1495 and £495 fee products
TSB Are Introducing
- 3 Year Fixed First Time Buyer and Home Mover 90-95% LTV £0 fee products
- 2 Year Fixed Remortgage 0-75% LTV £1495 fee products
TSB Are Reducing Rates On
- 2 Year Fixed First Time Buyer and Home Mover 60-95% LTV, by up to 0.20%
- 3 Year Fixed First Time Buyer and Home Mover 0-90% LTV, by up to 0.13%
- 5 Year Fixed First Time Buyer and Home Mover 80-95% LTV, by up to 0.15%
- 3 Year Fixed Remortgage, by up to 0.10%
- 5 Year Fixed Remortgage, by up to 0.30%
- 2 Year Fixed Shared Ownership First Time Buyer and Home Mover, by up to 0.40%
- 5 Year Fixed Shared Ownership First Time Buyer and Home Mover 80-90% LTV, by up to 0.25%
- 2 Year Fixed Shared Ownership and Shared Equity Remortgage, by up to 0.40%
- 5 Year Fixed Shared Equity First Time Buyer and Home Mover 80-85% LTV, by 0.25%
TSB Residential Mortgage Rates
- For first time buyers, TSB’s new product rates start at 4.34% and go up to 5.74% depending on the length of time you choose to fix your rate for, the amount of product fee applied, and the standard mortgage eligibility criteria.
- For home movers, TSB’s new product rates start from 4.34% again, and also go up to 5.74% depending on the length of time you choose to fix your rate for, the amount of product fee applied, and the standard mortgage eligibility criteria.
- For remortgages, TSB’s new product rates start from as low as 4.14% and go up to 6.29% depending on the length of time you choose to fix your rate for, the amount of product fee applied, and the standard mortgage eligibility criteria.
TSB Buy to Let Mortgage Products
TSB Are Introducing
- 2 and 5 Year Fixed Remortgage 75-80% LTV £1995, £995 and £0 fee products
- Buy-to-let mortgage rates start at 5.14% and go up to 6.29%
Speak To A London Mortgage Broker
At Oportfolio Mortgages, we are whole of market mortgage brokers, which means that our mortgage advisors have access to every mortgage lender and product in the UK market, and it is our job to help you to find the most suitable mortgage for your needs. If you or anyone you know is interested in getting a new mortgage, please feel free to give us a call or drop us a message today. We are here to help.
