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Newcastle BS trims resi rates and TSB updates BTL products

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  • 16/04/2021
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Newcastle BS trims resi rates and TSB updates BTL products
Newcastle Building Society has cut rates across its 85 per cent loan to value (LTV) range by up to 0.20 per cent.

 

The lender has reduced rates on several two and five year-products with £999 and zero fee options.

This includes the two-year fix with £999 fee cut by 20 basis points (bps) to 2.5 per cent.

Zero-fee deals include the two-year fix reduced by 15bps to 2.65 per cent and the five-year version which is reduced by 14bps to 2.85 per cent.

All products in the refreshed range attract free standard valuation and allow 10 per cent overpayments per year.

John Truswell (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re always reviewing the market to ensure our products remain competitive for clients and borrowers.”

 

TSB

Meanwhile, TSB has updated its buy-to-let (BTL) range by also cutting rates and introducing new products.

The lender has cut rates on its 60 per cent LTV purchase and remortgage products with zero fee by 25bps – the two-year version is at 1.94 per cent and the standard five-year fix is at 2.14 per cent.

It has also launched five-year fixes with three years’ early repayment charges (ERCs) at 60 and 75 per cent LTV at 2.34 per cent and 2.74 per cent respectively.

And a two-year tracker at 60 per cent LTV with £999 fee and no ERCs has been added at 1.79 per cent above Bank of England Base Rate, giving a current rate of 1.89 per cent.

 

 

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