1 April 2016

TSB expands it's affordable housing offering

TSB is today expanding its Affordable Housing offering available through brokers. Broadening its Help to Buy and Shared Equity offers across England, Scotland and Wales, the bank will also launch its support of the new Help to Buy London scheme.

Aligning with the Bank's aim of helping people borrow well, TSB is now giving even more people the chance to get onto the housing ladder with the geographic expansion of its Affordable Housing products. In addition, TSB will be offering a helping hand to homeowners and first time buyers across Britain, by cutting rates on a range of its mortgages.

Launching new products to support Affordable Housing

TSB has launched its participation in Help to Buy London, giving more homebuyers who are struggling to get their foot on the property ladder in the capital a chance to own a home. The Help to Buy London scheme gives buyers access to an increased government equity loan of up to 40 per cent of the purchase price.

Whilst TSB currently offers Help to Buy and Shared Equity in England through brokers, it is now expanding its offering to Scotland and Wales.

Products which will be added to TSB's Affordable Housing offering:

Homemover Two Year Fixed - People with a LTV between 0-75 per cent could benefit from rates as low as 2.19 per cent, whilst customers with a LTV from 75 per cent could see rates as low as 2.39 per cent. 

Homemover Five Year Fixed - People with a LTV between 0-75 per cent could benefit from rates as low as 2.94 per cent, whilst people with a LTV from 75 per cent could see rates as low as 3.09 per cent. 

Remortgage Two Year Fixed - Homeowners planning on remortgaging could benefit from rates as low as 1.99 per cent if they have a LTV between 0-60 per cent and 2.19 per cent for people with a LTV from 60 per cent.

TSB has also offered a further helping hand to homeowners by cutting rates on its Shared Equity and Shared Ownership Remortgage products. Customers who are already on an affordable housing scheme and are now planning on remortgaging will benefit from the rate reduction.

Beverley Bradford, Head of Intermediary Performance , said "It is great that TSB is now able to expand its Affordable Housing range to Scotland and Wales after the success of the schemes in England. TSB was born to help local communities thrive, this now offers an alternative option for home seekers across Britain who are finding it difficult to achieve their dream of owning their own home."

TSB helps out homeowners and first time buyers

TSB is reducing rates across its two, three and five year Homemover fixed rate mortgages and its two year Homemover tracker. Customers planning on remortgaging could also gain from the rate drop as TSB is reducing rates on its three and five year fixed remortgages.

The biggest rate drop will be for both the five year fixed and remortgages with an 80-85 per cent LTV where homemovers and first time buyers will benefit from a 0.20 per cent reduction.



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Notes to editors

  • All products will also be available to customers direct through TSB branches.
  • Affordable Housing is provided to specified eligible households whose needs are not met by the market. Eligibility for Affordable Housing is linked to local incomes and local house prices.

Help to Buy is a Government run initiative whereby qualifying customers are able to purchase a home with a deposit as low as 5%. The government will provide a further loan usually of up to 20%. So with a combined deposit of up to 25%, people will then have access to more attractive mortgage rates from lenders participating in the scheme. With Shared Equity, the loan is provided by a builder, developer or Housing Association, who retain a share in the property until the customer repays the loan a later date. 

  • TSB was created to bring more competition to British 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 4.7 million customers, award winning mobile and digital banking, nationwide network of branches and 8,600 Partners mean we are big enough to make a difference, but small enough to be an agile challenger to the entire market.

New products


Shared Ownership/Shared Equity Homemover two year fixed
LTVFeeNew Rate % 
0 - 75%£9952.19 
0 - 75%£02.59 
75 - 80%£9952.39 
75 - 80%£02.79 
80 - 90%£9953.54 
80 - 90%£03.94 


Shared Ownership/Shared Equity Homemover five year fixed
LTVFeeNew Rate % 
0 - 75%£9952.94 
0 - 75%£03.14 
75 - 80%£9953.09 
75 - 80%£03.29 
80 - 90%£9953.84 
80 - 90%£04.04 


Existing products

Shared Ownership/Shared Equity Remortgage two year fixed 
LTVFeeOld Rate %New Rate %Rate Difference %
0 - 60%£9952.691.99(0.70)
60 - 75%£9953.442.19(1.25)
75 - 85%£9954.492.34(2.15)


Homemover two-year fixed  
LTVFeeOld Rate %New Rate %Rate Difference % 
60 - 75%£1,9951.741.64(0.10) 
60 - 75%£9951.841.74(0.10) 
60 - 75%£02.242.14(0.10) 
75 - 80%£9952.041.94(0.10) 
75 - 80%£02.442.34(0.10) 
80 - 85%£9952.091.99(0.10) 
80 - 85%£02.492.39(0.10) 


Homemover three-year fixed 
LTVFeeOld Rate %New Rate %Rate Difference % 
60 - 75%£9952.292.14(0.15) 
75 - 80%£9952.542.39(0.15) 
80 - 85%£9952.742.59(0.15) 


Homemover five-year fixed  
LTVFeeOld Rate %New Rate %Rate Difference %
0 - 60%£9952.342.24(0.10)
0 - 60%£02.542.49(0.05)
60 - 75%£9952.592.49(0.10)
60 - 75%£02.792.74(0.05)
75 - 80%£9952.742.59(0.15)
75 - 80%£02.942.84(0.10)
80 - 85%£9953.042.84(0.20)
80 - 85%£03.243.09(0.15)


HMV 2 Year Tracker  
LTVFeeOld Rate %New Rate %Rate Difference %
60 - 75%£1,9951.691.59(0.10)
60 - 75%£02.192.09(0.10)
75 - 80%£9951.991.89(0.10)
75 - 80%£02.392.29(0.10)
80 - 85%£9952.041.94(0.10)
80 - 85%£02.442.34(0.10)


Remortgage three-year fixed  
LTVFeeOld Rate %New Rate %Rate Difference %
60 - 75%£9952.292.14(0.15)
75 - 80%£9952.392.24(0.15)
80 - 85%£9952.642.49(0.15)


Remortgage five-year fixed  
LTVFeeOld Rate %New Rate %Rate Difference % 
0 - 60%£9952.392.29(0.10) 
0 - 60%£02.592.54(0.05) 
60 - 75%£9952.642.54(0.10) 
60 - 75%£02.842.79(0.05) 
75 - 80%£9952.742.59(0.15) 
75 - 80%£02.942.84(0.10) 
80 - 85%£9953.042.84(0.20) 
80 - 85%£03.243.09(0.15)