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TSB revises mortgage range with rate increases of more than one per cent

Shekina Tuahene
Written By:
Posted:
October 6, 2022
Updated:
October 6, 2022

TSB has updated its mortgage offering with the relaunch of two and five-year fixes, the withdrawal of certain product transfers and upward repricing.

The bank has brought back its two-year fixes for first-time buyers and home movers and its five-year fixes for first-time buyers, home movers and remortgage after pulling these deals last week. Its two-year fixed remortgages remain unavailable. 

The only two-year fixed mortgage available to first-time buyers and home movers is its 95 per cent loan to value (LTV) mortgage which is now priced at 6.79 per cent. 

Pricing five-year fixed deals for first-time buyers and home movers now starts at 6.29 per cent for a 60 per cent LTV mortgage and goes up to 6.64 per cent for a 90 to 95 per cent LTV offering. 

Five-year fixed remortgages start at 6.29 per cent for a 60 per cent LTV product and go up to 6.49 per cent for a 90 to 95 per cent LTV deal. 

Meanwhile, the bank has pulled its residential and buy-to-let two and five-year fixed product transfer mortgages with a £995 fee, and withdrawn 10-year fixed residential product transfers also with a £995 fee. 

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Range repricing 

The bank has also increased rates by as much as 1.6 per cent. 

Rates on 10-year fixes for first-time buyers, home movers and remortgage have risen by 1.15 per cent. They are now available at a rate of 5.42 per cent up to 60 per cent LTV and 5.39 per cent at 60 to 75 per cent LTV. 

For buy-to-let borrowers, two and five-year fixed house purchase and remortgage rates have gone up by up to 1.6 per cent. 

For residential and buy-to-let product transfers, rates have increased by up to 1.2 per cent. 

For additional borrowing mortgages, residential and buy-to-let two and five-year fixes have risen by up to 1.2 per cent, while buy-to-let tracker rates have reduced by up to 0.15 per cent.