TSB has today announced it is lowering the rates on shared ownership/equity mortgages by up to 0.65 percentage points.
The new range of deals is available at a variety of loan-to-values (LTVs) with rates starting from 2.24 per cent.
Highlights of the new range include:
- 2.89 per cent two-year fixed-rate mortgage at up to 75 per cent LTV and no fee
- 2.24 per cent two-year fixed-rate mortgage at up to 60 per cent LTV and a £995 fee
- 2.49 per cent two-year fixed-rate mortgage at LTVs from 60 to 75 per cent and a £995 fee
Homebuyers looking for a shared ownership/equity mortgage with a smaller deposit will also see TSB rates cut by more than half a per cent. This range of shared ownership/equity mortgages is available on two year fixed rate deals up to 90 per cent loan to value (LTV). Rates for LTVs of 80 to 90 per cent now start from 4.54 per cent. The rates for LTVs from 80 to 75 per cent start from 3.34 per cent.
Homebuyers taking out a loan with an LTV of up to 75 per cent will receive £250 towards the cost of a solicitor carrying out a conveyance on their new home. This will help many homebuyers with the cost of the conveyancing fee on their new home.
| Shared Ownership/Equity – Homebuyer | ||||||
| Mortgage | Max LTV (%) | Fee | Old Rate (%) | New Rate (%) |
Change (%) |
Conveyancing offer |
| Two Year Fixed | 0-75 | £0 | 3.54 | 2.89 | -0.65 | £250 cashback |
| 0-60 | £995 | 2.59 | 2.24 | -0.35 | £250 cashback | |
| 60-75 | £995 | 3.14 | 2.49 | -0.65 | £250 cashback | |
| 75-80 | £995 | 3.89 | 3.34 | -0.55 | £0 | |
| 80-90 | £995 | 5.09 | 4.54 | -0.55 | £0 | |
All mortgage products are subject to current lending criteria and affordability assessment. Early Repayment Charges (ERCs) may apply during the fixed period.
