Interest rates on TSB’s variable rate mortgages will increase by 0.25%, following the Bank of England’s decision last Thursday to lift the base rate from 0.5% to 0.75%.
TSB has encouraged customers with concerns or questions to contact their local branch or our customer service team to book an appointment with our mortgage advisers to discuss options.
Lenders recently committed to help ‘mortgage prisoners’ stuck on Standard Variable Rates (SVR) to switch to a cheaper deal.
The bank is also increasing interest rates on the young saver account and junior ISA by 0.25%.
However, all other variable rate savings accounts will increase by only 0.10%.
Customers who have taken advantage of TSB’s range of fixed rate mortgages will not be affected, the lender said.