16 December 2014

TSB launches mortgage calculator to help customers find the best deal

TSB has launched a new online mortgage calculator which will allow mortgage customers to see how much TSB could lend them and what their monthly repayments might be, before they speak to a mortgage adviser.

Designed to help customers in their mortgage search, the new calculator will identify the amount TSB may allow the customer to borrow to buy a new home or remortgage, according to their incomings and outgoings.  The property value, indicative borrowing amount and mortgage type are then used to identify a list of TSB's current mortgage products which the customer could be eligible for.    

At the end of the process, the customer will not only receive a list of TSB mortgages that they could be eligible for and that meet their borrowing requirements, but also a minimum and maximum monthly repayment cost.  This empowers customers to easily see what the potential cost of a mortgage could be.

If they are ready to apply for a mortgage, the customer is then able to start the process by requesting an appointment in branch, calling our dedicated mortgage team or starting the application online.

The launch of the new online mortgage calculator is the latest enhancement to the newly designed website and closely follows TSB's Webchat pilot.  The Webchat assists visitors to the TSB website by answering any questions they may have ranging from current account queries to how to register for online banking.  The Webchat service is available from 8am to 8pm Monday to Friday and 9am to 6pm on Saturday, Sunday and bank holidays (excluding Christmas Day.)

With two fifths (40%) of traffic for a typical website coming via a smart phone or tablet rather than a PC, the new look www.tsb.co.uk , launched this August, offers a straightforward and intuitive service across all devices. 

Lorraine Donington, TSB's Head of Digital User Experience, said: "When customers are on the hunt for a new mortgage, it's really helpful to know how much they could borrow and get a view of what they might have to repay, before going through the interview process.  Our new online mortgage calculator will allow them to do just that.

"The mortgage calculator and Webchat are just two of the latest improvements we have made to our new website, but our work does not stop there.  We will continue to update and improve the website to make it easier for customers to use."     


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Notes to editors

1. The mortgage calculator does not shorten the mortgage interview process, but does give consumers a guide to how much they may be able to borrow and the size of their repayments.

2. Customers can save time by using our Webchat to get the help they need on a wide range of questions from how to set up online banking to any queries they may have about their current accounts.