Fixed interest rates mean fixed monthly payments within the agreed period, making planning easier.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Early Repayment Charges apply
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Mortgage deals often change - this table is updated with our latest ones, but these may not be available by the time you apply. Our Mortgage Advisors will discuss the best deals available to you when you apply.
There are a number of one-off fees that may apply when you arrange a mortgage with us. Your TSB Mortgage Advisor will explain which apply to your mortgage.
This fixed fee covers the setting up, routine maintenance and closing down of the mortgage account. It will be paid out of part of your loan when your mortgage starts. No interest is paid on this part of the loan and it is repaid over your chosen mortgage term.
Some mortgage deals do not have mortgage account fees - this is shown in the Mortgage Rates table.
Some of our mortgage deals have a product fee, others don't. In return for paying a higher fee or no fee and a higher rate. The Mortgage Rate Table shows what non-refundable product fee (if any) is payable.
Where a product fee applies, it will be added to your new mortgage. You can then pay the fee off if you want to, or leave it on your mortgage to spread the cost. If you pay the fee off within 30 days of the start of your mortgage, no interest will be charged on it. Or if you want to spread the cost, you can leave it on your mortgage and interest will be charged on it as part of your mortgage - this will affect your monthly payments.
If you're borrowing more or your mortgage is split across different deals, the interest on the product fee will be charged at the interest rate of your main loan account.
Unless your mortgage deal states otherwise, you will need to pay a property valuation fee when you apply.
See fees details based on your property value
Please visit our
tariff of mortgage charges
page for a full breakdown.
If you repay your mortgage (or more than 10% in any year) during the fixed rate period, an early repayment charge will apply. As a current concession you can repay up to 10% of the balance (as at 1 January) each year and the charge will not apply (unless you go on to repay or change the rest of the loan within the next six months). We may change or withdraw this concession on giving three months notice.
For amounts above 10%, the charge will be a percentage of the amount repaid and varies depending on how long you have left on your fixed rate, as shown in the tables below.
Whether you can have a mortgage and the amount you can borrow will come down to what we think is a sensible amount to lend you and what we agree you can afford. To help us make a decision, we'll take a number of things into account.
Your income - you'll need to confirm this by showing us payslips, bank statements and/or HM Revenue and Customs documents.
Your outgoings - it's also important to think about your other financial commitments, and consider what effect future interest rate rises could have on your finances. This is to help guard against your mortgage becoming unmanageable. We will not agree a mortgage if there is any indication that you cannot afford it or keep up the payments.
Your age - you must be at least 25 years old to apply. Only your retirement income will be considered if you want your mortgage to go past your planned or state retirement age.
Records of previous loans or credit - we'll ask for your consent to search the information held about you and your financial arrangements held by credit reference agencies. This can include information passed on by banks and other financial service companies, as well as publicly available information such as the electoral roll. We'll use a credit reference agency and fraud prevention agencies to help assess your application.
The value of the property - limits apply to the maximum we will lend depending on the type of mortgage and property. This is detailed on the mortgage rate table above.
There are two ways to repay the money you have borrowed - on an interest-only or a repayment basis.
If you already have an interest only mortgage with us and you are now switching to a new deal you can apply to continue on an interest only basis up to the same amount as you already have on interest only. But if you are borrowing more at the same time, and your total mortgage is going to be more than 75% of your home's value, the new additional borrowing must be on a repayment basis.
With an interest-only mortgage, you'll only pay the interest on your loan amount each month. At the end of the mortgage term - usually 25 years - you'll still owe the capital, which is the amount you initially borrowed, so you'll need to have a plan in place to pay this off at the end of the term.
With a repayment mortgage, each monthly repayment pays off part of the capital as well as the interest, so your mortgage will be repaid in full at the end, as long as you keep up the repayments.
The monthly payments for a repayment mortgage are higher than for an interest-only mortgage, but this doesn't mean that interest-only is a cheaper option or that it'll help you afford a bigger mortgage. You'll also need to have a way of paying back the capital, so this needs to be taken into account when you work out what you can afford.
You can repay your mortgage over a term that suits you - from 1 to 40 years - although we only usually consider a mortgage term that ends before you reach 75. If your loan carries an early repayment charge, you won't be able to choose a term that finishes before the early repayment charge period.
Within six months of your mortgage starting:
Important information for 5 Year Fixed Rate Buy-to-Let Mortgage customers
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