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TSB halves selected loan sizes

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  • 06/11/2015
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TSB halves selected loan sizes
TSB has cut the maximum loan size on a number of its homemover and remortgage products from £1m to £500,000.

The lender has reduced its loan size for selected products in its homemover two-year fixed and two-year tracker ranges. The loan size has also been halved on a number of its deals offered through the remortgage two-year fixed and two-year tracker ranges.

At the same time, rates on its two-year fix for homemovers and remortgagors has been slashed by up to 0.15%, making it the best rate on the product since May 2015 at 1.44%.

Further rate reductions include its two-year tracker mortgages for homemovers and remortgagors available up to 60% LTV which have been reduced by up to 0.15%, while rates on its five-year fixed deal for movers have been cut by up to 0.1%.

Roland McCormack, TSB Mortgage Intermediary Director, said: “TSB has today turned back the clock six months, announcing our lowest mortgage rate since May 2015. The competitive rate of 1.44% rate will provide home-movers and remortgagees with the security of a fixed rate mortgage, while the other recent cuts to TSB mortgages will help Britain’s first-time-buyers take their first step onto the property ladder.”

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