TSB removes two-year fixed purchase at 60% to 90% LTV

TSB has temporarily removed the most of its two-year fixed purchase for new business. The lender has withdrawn its 60% to 90% LTV two-year fixed purchase for first-time buyers and house purchase. As well as, for remortgage products from 60% LTV to 85% LTV.

The only two-year fixed mortgage for new customers that remains is the 60 per cent LTV deal for first-time buyers at 1.24 per cent.

Just five-year fixed mortgages are available for new borrowers with requirements above 60 per cent LTV while existing customers can still opt for a shorter-term product.

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New changes in rates:

The lender has cut rates on five-year fixed mortgages with three-year early repayment charges (ERC) by 0.10 per cent. These deals are available to purchasers and first-time buyers and rates range from 2.24 per cent at 60 per cent LTV to 4.04 per cent at 85-90 per cent LTV. 

However, across five-year fixes with five-year ERCs, rates have gone up by 0.15 per cent. Further, the same increases are seen on the first-time buyer stepped down product at 85-90 per cent LTV. The rate of the stepped down mortgage falls by 10 basis points each year. 

Additionally, all product ends dates have been moved to the end of May. However, these changes have been effective from 15 January 2021. A TSB spokesperson said:

“As part of our regular review of our products, we have made temporary changes to ensure our mortgages are in line with market conditions and so we’re able to manage our service levels to support the demand from our customers.”

If you would like to take advantage of this incredible opportunity or need further advice on mortgage rates. Please call our office on 0113 2488181 and we will surely offer you a free initial consultation.

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