TSB cuts mortgage rates for landlords, homeowners, buyers

TSB is from today (18 June) reducing interest rates on mortgage deals for landlords, homeowners and homebuyers, the bank has announced.

New and existing landlords can take advantage of the improved offers in TSB’s buy-to-let mortgage portfolio.

TSB has cut rates by up to 0.2 percent for landlords taking out a buy-to-let mortgage on a new property.

Three-year fixed rate deals start at 3.04 per cent with a loan-to-value (LTV) of up to 60 per cent with a fee of £1,995.  A fee free option is also available at 3.44 percent.

Existing landlords with a mortgage elsewhere can remortgage to TSB over a five-year term starting from 3.39 per cent, with a fee of £1,995 for a LTV of up to 60 per cent. For those with a higher LTV, of between 60-75 per cent, rates now start at 3.99 per cent.

For homeowners looking to remortgage TSB is cutting residential mortgage rates across two- and five-year fixed-term deals as well as the bank’s two-year tracker rate, which is pegged to the Bank of England’s base rate.

• Homeowners, with a loan to value ratio of 60 to 75 per cent can benefit from two-year fixed rates starting at just 1.74 per cent with a £995 fee.
• Homeowners, with an LTV ratio of 60 up to 75 per cent can benefit from two year fixed rates starting at just 1.74 per cent.
• For homeowners with a higher LTV of 75 up to 80 per cent, two year fixed rates start at 2.14 per cent and 2.39 per cent for LTVs of 80-85 per cent.
• Two year trackers from 60 up to 85 per cent LTV have all been reduced by 0.1 percentage point.
• Five year fixed rates have been reduced by 0.1 percentage point for people with an LTV ranging from 60 up to 85 per cent with rates beginning at 2.59 per cent with a £995 fee.

Two-year fixed rate mortgages have been reduced by 0.2 percentage points for homebuyers with a deposit of less than 20 per cent. Homebuyers with a deposit of 15-20 per cent (80-85 per cent LTV) can benefit from rates starting at 1.94 per cent for a two-year tracker.

Five-year fixed rate deals, for those with deposits of 10-15 per cent (85-90 per cent LTV), have also been reduced with rates starting at 3.98 per cent.