02 March 2017

TSB reduces selected mortgage rates

TSB has reduced interest rates by 0.10% on selected mortgages for home movers, first time buyers and remortgage borrowers.
 
The following mortgages will receive a rate reduction:
 
  • Five-year fixed rates for home movers, first time buyers and remortgage borrowers (60-85% LTV)
  • Two-year fixed rates for remortgage borrowers (60-75% LTV)
  • Two-year tracker rates for remortgage borrowers (60-75% LTV)

For home movers and first time buyers in the 85-95% LTV category, they will now receive £250 cash-back.
 
Roland McCormack, Mortgage Distribution Director, said: “We want to help more people to borrow well and today’s rate cuts are good news for those with a higher deposit [60-85% LTV] looking to get a mortgage. Home movers and first time buyers with smaller deposits [85-95% LTV] can get £250 cash-back, which will help with the cost of moving.”
 
The previous £750 cash-back offer, which was available to first-time buyers in the 75% LTV or above category only, has been removed. All TSB mortgages do not have application fees.

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Notes to editors

Home movers and first time buyers 2 Year Fixed

 
LTV Fee Old Rate % New Rate % Rate Difference % NEW
85-90% £995 2.39   NO CHANGE CASHBACK CHANGED TO £250
85-90% £0 2.79   NO CHANGE CASHBACK CHANGED TO £250
90-95% £995 3.58   NO CHANGE CASHBACK CHANGED TO £250
90-95% £0 3.99   NO CHANGE CASHBACK CHANGED TO £250

Home movers and first time buyers 3 Year Fixed

LTV Fee Old Rate % New Rate % Rate Difference % NEW
85-90% £995 2.49   NO CHANGE CASHBACK CHANGED TO £250
85-90% £0 2.84   NO CHANGE CASHBACK CHANGED TO £250
90-95% £995 3.58   NO CHANGE CASHBACK CHANGED TO £250
90-95% £0 3.98   NO CHANGE CASHBACK CHANGED TO £250

Home movers and first time buyers 5 Year Fixed

LTV Fee Old Rate % New Rate % Rate Difference % NEW
60-75% £995 2.09 1.99 0.10  
60-75% £0 2.34 2.24 0.10  
75-80% £995 2.24 2.14 0.10  
75-80% £0 2.49 2.39 0.10  
80-85% £995 2.39 2.29 0.10  
80-85% £0 2.64 2.54 0.10  
85-90% £995 3.19   NO CHANGE CASHBACK CHANGED TO £250
85-90% £0 3.39   NO CHANGE CASHBACK CHANGED TO £250
90-95% £995 4.49   NO CHANGE CASHBACK CHANGED TO £250
90-95% £0 4.69   NO CHANGE CASHBACK CHANGED TO £250

Home movers and first time buyers 10 Year Fixed with 5 year ERC

LTV Fee Old Rate % New Rate % Rate Difference % NEW
85-90% £0 4.04   NO CHANGE CASHBACK CHANGED TO £250
85-90% £0 5.09   NO CHANGE CASHBACK CHANGED TO £250

Remortgage 2 Year Fixed

LTV Fee Old Rate % New Rate % Rate Difference % NEW
60-75% £995 1.44 1.34 (0.10)  
60-75% £0 1.94 1.84 (0.10)  

Remortgage 5 Year Fixed

LTV Fee Old Rate % New Rate % Rate Difference % NEW
60-75% £995 2.09 1.99 (0.10)  
60-75% £0 2.49 2.39 (0.10)  
75-80% £995 2.24 2.14 (0.10)  
75-80% £0 2.64 2.54 (0.10)  
80-95% £995 2.39 2.29 (0.10)  
80-95% £0 2.79 2.69 (0.10)  

Remortgage 2 Year Tracker

LTV Fee Old Rate % New Rate % Rate Difference % NEW
60-75% £995 1.34 1.24 (0.10)  
60-75% £0 1.84 1.74 (0.10)  

TSB was built to bring more competition to UK banking – to be a real challenger to the big banks and to deliver the kind of banking the people of Britain want. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.

We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks.

Our 5 million customers, award winning mobile and digital banking, nationwide network of branches and 8,200 Partners mean we are big enough to make a difference, but small enough to be an agile challenger to the entire market.

For further information about TSB Bank plc, please visit our website www.tsb.co.uk.

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