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TSB extends broker mortgage range

by: Emma Lunn
  • 18/03/2015
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TSB extends broker mortgage range
TSB Intermediary has expanded its range available through brokers by including remortgages for the first time.

Responding to demand from brokers, TSB Intermediary will start with the launch of longer-term remortgage deals which include five-year terms and TSB’s 10-year Fix and Flex mortgage product. Further products will be rolled out over the course of the next few weeks.

TSB launched to the intermediary market in January. Introducing remortgage products to its broker range is part of the bank’s growth strategy into the intermediary market.

It currently limits its intermediary offering to nine networks and 73 Directly Authorised businesses but plans to sell through more brokers later in the year.

Roland McCormack (pictured), TSB intermediary director, said: “We always planned to roll out new products over time and this latest announcement is testament to the success of TSB Intermediary so far, we look forward to making the full range available to brokers soon.

“We’ve started with five and 10-year mortgages due to broker demand as customers look to fix their interest rate for longer. We are currently seeing a lot of appetite for our Fix and Flex mortgage as people seek the assurance of a fixed rate over a longer term with the flexibility to be able to leave after five years without paying a penalty.” 

Last week Spanish bank Sabadell announced its interest in purchasing TSB. The Spanish bank approached it with a £1.7bn takeover bid, less than a year after the stock rejoined the London stock market when Lloyds began to sell off its stake.

TSB said its board is prepared to recommend the Spanish bank’s offer of 340p per share.

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