TSB Mortgage Products Are Changing
TSB have sent communication out to all register TSB mortgage brokers today to announce the re-introduction of some essential products. The lender, which is part of the Lloyds banking group, have said that they are re-introducing several house purchase and first-time buyer products to their catalogue.
Although the new products don’t have particularly competitive rates at the moment, they have been reduced quite significantly and seeing these products introduced means that the lender (and the group as a whole) definitely have an appetite to lend and want to do so. So, to a broker, this is indeed encouraging news.
The changes that they are bringing in are as follows:
- Reintroduction of 2 Year Fixed £995 fee First Time Buyer and House Purchase
- Reintroduction of 5 Year Fixed Shared Equity First Time Buyer and House Purchase
- 5 Year Fixed First Time Buyer and House Purchase, reduced by up to 0.35%
The rates for each new product are as follows:
First time buyer fixed for 5 years with 5 year early repayment charges
- 0-60% LTV, £995 fee, Original rate 3.74% New rate = 39%
- 60–75% LTV, £995 fee, Original rate 3.79% New rate = 44%
- 75-80% LTV, £995 fee, Original rate 3.84% New rate = 54%
- 80-85% LTV, £995 fee, Original rate 3.84% New rate =54%
- 85-90% LTV, £995 fee, Original rate 3.99% New rate =84%
- 90-95% LTV, £995 fee, Original rate 4.09% New rate =04%
House purchase fixed for 5 years with 5 year early repayment charges
- 0-60% LTV, £995 fee, Original rate 3.74% New rate = 39%
- 60–75% LTV, £995 fee, Original rate 3.79% New rate = 44%
- 75-80% LTV, £995 fee, Original rate 3.84% New rate = 54%
- 80-85% LTV, £995 fee, Original rate 3.84% New rate = 54%
- 85-90% LTV, £995 fee, Original rate 3.99% New rate = 84%
- 90-95% LTV, £995 fee, Original rate 4.09% New rate = 04%
These changes will come in to affect on the 29th of July 2022.
If you or anyone you know is interested in seeing how we can help you to get the best possible TSB mortgage or a mortgage with any other lender, please feel free to give our helpful advisor team a call today.
