TSB has reduced its rates on selected two-year fixed and tracker mortgages for homemovers, first-time buyers and remortgage customers.
For first-time buyers, its two-year product carries a rate of 1.89% at 60 to 75% loan-to-value (LTV), while rates for its two-year fix for homemovers stands at 1.34% for 60 to 75% LTVs.
Additionally, TSB’s two-year tracker now carries a rate of 1.14% available up to 60% LTV.
Roland McCormack, TSB mortgage distribution director, said the revised rates demonstrated TSB’s continued support to customers either wanting to get their foot on the property ladder or move along it.
More good news for first-time buyers followed, as Accord Mortgages launched an additional £500 cashback incentive for first-time buyers who complete on a 90% and 95% LTV fixed rate-mortgage.
The money will be applied to all other incentives, dependent on the mortgage customers opt for, with the largest cashback amount a customer can receive standing at £1,250.
David Robinson, national intermediary sales manager at Accord, said it was committed to providing competitive rates for borrowers with a 5% or 10% deposit.
He added many first-time buyers turn to brokers for advice and hoped the bonus would appeal to intermediaries who were helping their clients purchase their first property.
Borrowers have been encouraged to act fast as the offer is only available between 18 November to 5 December and presents the ideal opportunity for customers to enjoy a much-needed financial boost in the run up to Christmas.