13 May 2015

TSB Intermediary launches Buy to Let

From today, 13 May 2015, TSB Intermediary will provide Buy to Let mortgages. Landlords across Britain will now be able to opt for a TSB mortgage through an intermediary as the Bank expands its mortgage range available through brokers.

Initially, five year deals will be available with further Buy to Let deals being added in the coming weeks.  This is the latest development for TSB Intermediary which launched in January this year and follows the launch of remortgage products in March.  

Unlike some other big players in the market, both TSB Buy to Let and homeowner mortgages will operate under one brand.  This means brokers will contact the same team and the same BDM they already have relationships with, follow the same processes they are accustomed to and benefit from the same great service they are already used to.

Key information

  • Five year deals.
  • Available up to 75% LTV.
  • Maximum loan size £500,000.
  • Maximum of four applicants.

Roland McCormack, TSB's Mortgage Intermediary Director, says:  "This is the latest milestone in the growth of TSB Intermediary.  Brokers have been asking when we'll offer Buy to Let mortgages for some time now and we're pleased to be able to fulfill that demand.

"Our bespoke approach to service is already proving popular which is why we want to ensure all of our mortgages are under one brand and one team so brokers can contact the same BDM and benefit from the same great service they have already come to expect from TSB."

This launch follows a successful Buy to Let pilot with leading fee free broker London and Country.

Notes to editors

  • Brokers will be able to recommend TSB Buy to Let mortgages to customers looking to remortgage from Wednesday 13 May 2015.
  • The initial roll out will be for five year mortgages only with other terms available in the coming weeks.
  • TSB Intermediary is currently available to around two-thirds of the broker market (65%) and will roll out further during 2015.

TSB Buy to Let Mortgages:

  • Available to UK residents only (BFPO personnel permitted).
  • Not available to first time buyers (any applicant).
  • Minimum age at application is 25 years. Maximum age at the end of the term is 75.
  • Maximum term is 40 years.
  • Minimum property valuation - £40,000.