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TSB cuts rates as Leeds BS adds fee-free RIO deal – roundup

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  • 11/02/2019
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TSB cuts rates as Leeds BS adds fee-free RIO deal – roundup
Leeds Building Society and TSB have updated their mortgage ranges.

TSB has cut interest rates on its two-year, five-year and ten-year fixed rate mortgages for house purchase and remortgage borrowers.

Changes include a reduction of 0.10% for two-year fixed house purchase at up to 90-95% loan to values (LTV), as well as for ten-year fixed house purchase and remortgage at 0-75% LTV.

They also include a reduction of 0.05% for five-year fixed remortgages at 60-85% LTV.

Nick Smith, TSB’s head of mortgages, said: “Many borrowers like the security of longer term deals and also do not want to remortgage every couple of years so our 10-year fixed rate is just another example of us helping more people to borrow well and a welcome step for those looking to fix their monthly payments for a longer period of time.

“This mortgage is fully portable if customers decide to move so not only gives customers certainty but also offers them flexibility.”

 

Leeds Building Society

Leeds BS has introduced a no fee fixed rate retirement interest only (RIO) mortgage, following the launch of the ten-year RIO product.

The new no fee five-year 3.83% fixed rate is available up to 55% LTV and comes with a free standard valuation.

Matt Bartle, Leeds Building Society’s director of products (pictured), said that it was the only no fee fixed rate RIO mortgage available in the market.

He added: “We continually keep our mortgage range under review and these products are the latest examples of our commitment to offering more choice to consumers, particularly those less well served by the wider market.”

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