TSB is set to offer 95% loan to value (LTV) mortgages to help borrowers.
The new products will be on the market from 7 April and will be available to first-time buyers and home movers.
This latest announcement follows the success of various launches from TSB to help borrowers with their home buying journey over the past year following the impact of the pandemic. This includes being one of the first banks to re-enter the 90% LTV mortgage market last year and the launch of a first-time buyer product range.
The key features of the 95% LTV mortgages are as follows:
- Available for first-time buyers and home-movers
- Customers can borrow up to £500,000
- Product rates and fees will be announced in full ahead of the launch
- Flats and new build homes will continue to be capped at 85% LTV
- Products will be available direct with TSB and via brokers.
Nick Smith, TSB’s Head of Mortgages said:
“We know that for many first-time buyers, raising a deposit is often the biggest challenge. We were one of the first lenders to return to offering 90% LTV during the pandemic, and we’re pleased to now reintroduce our 95% LTV range giving further options for first-time buyers and those wanting to move home.
Avni Raval, Media Relations Manager
T: 07880 276 391 | firstname.lastname@example.org
Notes to editors
- The new TSB 95% LTV mortgages will not be launched as part of the government’s scheme announced at the time of the Budget. However, they will provide borrowers the opportunity to buy a property with a smaller deposit, alongside the government’s scheme.
TSB is a UK retail bank with a trusted customer brand and heritage stretching back to the start of the savings bank movement 200 years ago. TSB offers full retail banking to more than five million customers, online, digitally, via phone and through our branch network. In August last year we launched our Do What Matters Plan, which commits to creating social and environmental, as well as economic value.