TSB has today launched a three-year option to its Fix and Flex range to help homeowners, particularly in the wake of Covid-19. The latest launch follows the success of TSB’s existing ten-year and five-year Fix and Flex products.
Unlike most fixed deals, the Fix and Flex mortgage offers the reassurance of a fixed rate but with the freedom to leave before the period ends. With a three-year Fix and Flex mortgage, customers can refinance or leave the mortgage after two years without having to pay an early repayment charge (ERC).
TSB’s three-year Fix and Flex product will be available for first-time buyers, home-movers and remortgage customers from today and will be available for buy-to-let customers from end of March.
The key features of Three-Year Fix and Flex are as follows:
- Market competitive rates from 1.34%, up to 90% Loan to Value (LTV) and product fee options of either £0 and £995.
- No application fees.
- No ERC if customers leave/refinance after two years.
- Available to first-time buyers, home-movers and customers looking to remortgage from today, and for Buy-to-let customers from end of March.
Roland McCormack, TSB’s Director of Mortgages said: “In the current environment, we know customers want to feel more confident about the mortgage they choose without the worry of being tied in for too long our new three-year Fix and Flex product is designed to do exactly that.”
*In addition, TSB has also revised its lending criteria for customers who are self-employed. From today, TSB will provide self-employed customers up to 90% LTV and will accept up to 60% of overtime and commission payments as income.
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Notes to editors
- This launch follows the success of Five and Ten-year Fix and Flex products, more information on our products range can be found here: Mortgages | Our best deals & rates | TSB Bank
- More information on three-year Fix and Flex is available on the TSB website, depending on the mortgage type: First Time Buyer | Mortgages | TSB, Remortgaging | Mortgages | TSB Bank
- *Last year, TSB introduced temporary lending criteria that restricted mortgage applications from self-employed customers to 75% LTV.