TSB ups rates
TSB has made a raft of changes to its residential range including cuts and increases to rates and the withdrawal of a remortgage product.
Effective from today, TSB’s five-year fixed remortgage at 0-60 per cent loan to value (LTV) with a £995 fee has seen its rate reduced by 0.05 per cent to 1.49 per cent. This includes the version of the product which comes with free legals and £300 cashback.
Its two-year fixed house purchase mortgage at 85-95 per cent LTV with £0 fee has seen rates increased by up to 0.10 per cent.
Within the 85-90 per cent LTV tier, rates have risen 0.05 per cent to 2.34 per cent while the 90-95 per cent LTV equivalent has seen rates go from 3.04 per cent to 3.14 per cent.
The five-year fixed mortgage at 80-85 per cent LTV with a £995 fee has increased by 0.05 per cent to 1.89 per cent.
TSB has also withdrawn its two-year fixed remortgage at 75-85 per cent LTV product which had a £1,495 fee and free legals.
Leeds BS exclusive
Leeds Building Society has launched an exclusive two-year fixed rate mortgage product with TMA Club and Primis Mortgage Network, available immediately.
As part of the exclusive deal, TMA and Primis advisers will have access to an exclusive rate of 1.54 per cent, fixed for two years until 30 June 2022, with a £999 product fee.
Following the initial fixed period, the product reverts to a standard variable rate of 1.25 per cent until 30 June 2025, discounted from 4.44 per cent.
The product also comes with up to 80 per cent loan to value (LTV) and a maximum loan value of £750,000. It is available for purchase and remortgage options and includes a fee-free valuation.
Lisa Martin, development director at TMA, said: “At TMA we look for lenders who take a forward-thinking approach to lending and Leeds Building Society does just that.”
Vikki Jefferies (pictured), proposition director at Primis, added: “This latest deal is just one of many we hope to offer our advisers this year as we continue to grow and enhance our proposition.”
Vernon launches five-year fix
Vernon Building Society has launched a five-year fixed rate which is now available at a new LTV tier of 80 per cent.
The new mortgage is fixed at 2.3 per cent for five years and comes with no arrangement fee. It adds to the lender’s existing five-year fixed rates at 95 per cent and 90 per cent LTV.
Tom Gurrie, intermediary sales manager at Vernon Building Society, said: “We noticed a gap in the market for borrowers who have a modest deposit, but more than 10 per cent, and want to benefit from a more competitive interest rate than available at 90 per cent LTV.
“This mortgage allows them to fix into an attractive rate of interest for the medium term, without the upfront cost of an arrangement fee.”
The deal is available through brokers and direct.