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TSB adds remortgages up to 90 per cent LTV; Nationwide cuts rates and updates EU criteria

  • 01/04/2021
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TSB adds remortgages up to 90 per cent LTV; Nationwide cuts rates and updates EU criteria
TSB has launched two-year fixed remortgages up to 90 per cent loan to value (LTV).



They include a remortgage for 60-75 per cent LTV with a £1,495 fee. This has a rate of 1.29 per cent. There is also the product at 85-90 per cent LTV with a £995 fee, with a rate of 3.14 per cent. 

The products offer a free valuation as well as the choice of £300 cashback or free legals. 

Both products are available from today. 


Nationwide cuts rates and amends criteria for EU applicants 

Nationwide has reduced rates on two and five-year fixed products up to 80 per cent LTV. 

Shared equity deals have been cut by up to 0.35 per cent. A two-year fixed at 0-60 per cent LTV with a £999 fee now has a rate of 1.34 per cent, down from 1.44 per cent. The fee-free option has a rate of 1.74 per cent down from 1.84 per cent. 

Larger reductions were made across five-year fixed shared equity products.  

This includes the fee-free product at 75-80 per cent LTV which has been cut by 35 basis points to 2.69 per cent. The £999 fee-paying alternative has also seen the same reduction and is now 2.49 per cent. 

A five-year fixed purchase product at 60-75 per cent LTV has been cut by 0.05 per cent to 1.94 per cent. Reductions of 0.10 per cent to first-time buyer deals at the same tier, fixed for either two or five years also bring the rate to 1.94 per cent. 


EU and EEA applicants 

From 26 April, a decision in principle (DIP) carried out before the stated date but not submitted to a full application for any EEA national will be cancelled. 

To proceed with an application that has been cancelled, a new DIP will need to be completed. 

For non-UK and Republic of Ireland (ROI) nationals with no indefinite leave to remain or settled status, Nationwide will only lend up to 75 per cent LTV. 

The lending limit will not apply to if the second applicant is a non-UK or ROI national and their income is not used for the application. 

If an applicant does not have indefinite leave to remain or settled status, Nationwide will accept a number of approved visas including a residence card or UK ancestry visa. They must also have a minimum of two years and six months remaining. 

Applicants must be able to fund a minimum 25 per cent deposit from their own resources for purchases or have 25 per cent equity in their homes property for remortgages or additional borrowing. 

For joint applications, the deposit from own resources can come from either or both applicants. 

Purchase and remortgage offers to EU and EEA applicants will be valid for 180 days, and switches will be valid for 45 days. Further advance offers will have a period of three months. 

New build offers can be extended for 45 days on request depending on eligibility and criteria. 

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