Santander reduces high LTV rates; TSB introduces tracker and shared equity deals

Santander reduces high LTV rates; TSB introduces tracker and shared equity deals

 

The largest reductions have been made to the 90 per cent LTV products, where the two-year fixed rate product has decreased from 2.57 per cent to 2.24 per cent and the five-year fixed rate product has fallen from 3.20 per cent to 2.90 per cent. 

These products are available for purchase only and have a £999 fee. 

At 85 per cent LTV, a two-year fixed rate remortgage product has been cut by 0.17 per cent while the purchase alternative has reduced by 0.21 per cent, and both are priced at 1.63 per cent. These deals have a fee of £999. 

The fee-free alternatives have been reduced by up to 0.21 per cent and now have rates of 2.06 per cent. 

Other significant cuts include the two-year fixed purchase and remortgage product at 85 per cent LTV which has decreased by 0.26 per cent to 1.85 per cent.

There is also the five-year fixed fee-free purchase product at 80 per cent LTV, which has been cut by 0.28 per cent to 2.19 per cent. 

Changes will be effective from tomorrow. 

 

TSB launches tracker and shared equity deals 

TSB has added two-year tracker mortgages for first-time buyers, movers and remortgagors up to 90 per cent LTV. 

It has also launched shared ownership and shared equity deals up to 85 per cent LTV. 

Up to 60 per cent LTV, the rate is 1.09 per cent above the current base rate of 0.10 per cent. Between 60-75 per cent LTV, the tracker rate is 1.29 per cent above the base rate. 

At 85-90 per cent LTV, the tracker rate is 2.64 per cent above the Bank of England base rate. 

All products have a £995 fee. 

The two-year fixed shared ownership products have rates varying from 1.69 per cent up to 60 per cent LTV to 2.54 per cent at 80-85 per cent LTV.