TSB has withdrawn its two-year fixed purchase, first-time buyer and remortgage products up to 90 per cent loan to value (LTV).
The only two-year fixed mortgage for new customers that remains is the 60 per cent LTV deal for first-time buyers at 1.24 per cent.
Just five-year fixed mortgages are available for new borrowers with requirements above 60 per cent LTV while existing customers can still opt for a shorter term product.
Rate changes
Rates on five-year fixed mortgages with three year early repayment charges (ERC) have been cut by 0.10 per cent.
These deals are available to purchasers and first-time buyers and rates range from 2.24 per cent at 60 per cent LTV to 4.04 per cent at 85-90 per cent LTV.
Across five-year fixes with five-year ERCs, rates have gone up by 0.15 per cent, the same increases are seen on the first-time buyer stepped down product at 85-90 per cent LTV.
The rate of the stepped down mortgage falls by 10 basis points each year.
These changes are effective from 15 January.
A TSB spokesperson said: “As part of our regular review of our products, we have made temporary changes to ensure our mortgages are in line with market conditions and so we’re able manage our service levels to support the demand from our customers.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
