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TSB and Leeds BS launch New Year mortgage deals

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  • 03/01/2020
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TSB and Leeds BS launch New Year mortgage deals
TSB has introduced new buy-to-let and product transfer deals for borrowers looking for a fixed rate of up to ten years while Leeds Building Society has launched a flexible mortgage range.

Highlights from TSB’s new two-year fixed rate product transfer deals include 1.39 per cent up to 60 per cent loan to value (LTV) and 1.68 per cent between 75 and 80 per cent LTV.

TSB borrowers who want to switch to a five-year fixed deal can choose from new deals including a 1.89 per cent interest rate between 75 and 80 per cent LTV.

Those looking to lock in for ten years have two new deals to choose from. Borrowers with a 40 per cent deposit can secure a rate of 2.24 per cent while those with a LTV between 60 and 75 per cent can access a rate of 2.29 per cent.

Meanwhile, landlords with up to a 40 per cent deposit who want to fix their interest rate for two years can access a 1.69 per cent deal, or 1.94 per cent if they their LTV is between 60 and 74 per cent. Alternatively, a five-year deal is available at 1.99 per cent at 60 per cent LTV and 2.24 per cent up to 75 per cent LTV.

The arrangement fee for all TSB’s new deals is £995.

Nick Smith, TSB’s head of mortgages, said: “The mortgage market is very competitive for borrowers and the changes we’ve introduced today give our customers more choice, so that we’re helping more people borrow well.”

Leeds Building Society

Leeds Building Society has launched two fixed rate mortgages with no early repayment charges (ERCs) or limits on overpayments. 

The ‘Flexit’ products are available up to 75 per cent LTV and have £999 fees. 

These include a 1.71 per cent two-year fixed rate Flexit mortgage with free standard valuation and fees assisted legal services for standard remortgage and a 1.97 per cent five-year fixed rate Flexit mortgage with free standard valuation. 

Matt Bartle (pictured), director of products at Leeds Building Society, said: “Our new two- and five-year Flexit fixed rate mortgages provide borrowers with increased flexibility as they have no ERCs and the option to make unlimited overpayments, which are usually capped at 10 per cent capital repayments per year. 

“We know there is demand for these products following the insight and feedback we’ve gathered from borrowers and our broker partners.” 

He added: “Ongoing economic uncertainty is likely to mean borrowers will be seeking flexibility and these products enable them to keep their options open should their circumstances change. 

“Increased flexibility is particularly important for those looking to secure their monthly payments, while retaining the ability to make significant overpayments.” 

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