TSB has introduced a new set of five-year fixed rates for residential mortgages.
There’s a five-year fixed rate of 1.64 per cent for remortgages of up to 75 per cent loan to value (LTV) and the rate is 1.84 per cent for LTVs of 75 per cent to 85 per cent.
In both cases, a fee of £1,495 applies and the products come either with free legal advice or £300 cashback.
“We’re seeing more borrowers opt for longer-term fixed-rate loans. There is a lot of uncertainty in the marketplace and the products will give borrowers peace of mind,” said Nick Smith, head of mortgages at TSB.
