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TSB removes two-year fixes above 60 per cent LTV

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  • 15/01/2021
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TSB removes two-year fixes above 60 per cent LTV
TSB has withdrawn its two-year fixed purchase, first-time buyer and remortgage products up to 90 per cent loan to value (LTV).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.”

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