TSB has cut rates on its two and five-year fixed product transfers by up to 70 basis points (bps).
.
The changes have been made up to 85 per cent loan to value (LTV).
This includes the two-year fixed rate product for borrowing amounts of up to 60 per cent LTV with a £995 fee, which has been cut from 0.94 per cent to 0.84 per cent.
The fee-free alternative has been reduced by 45 bps to 1.24 per cent.
At 60-75 per cent LTV, the two-year fixed rate with a £995 fee has been cut by 10 basis points to 0.99 per cent, and the fee-free option has been reduced by 55 bps to 1.39 per cent.
At higher LTVs, rates now vary between 1.69 per cent for a two-year fixed at 75-80 per cent LTV with a £995 fee, to 2.54 per cent for a fee-free product transfer at 80-85 per cent LTV.
The five-year fixed product transfer at 0-60 per cent LTV has been reduced by 20 bps to 0.99 per cent.
The fee-free alternative received a significant reduction of 70 bps to 1.24 per cent. Other notable cuts include the 60-75 per cent LTV deal with no fee which went down to 1.44 per cent from 2.09 per cent.
The 10-year fixed rate product transfer up to 60 per cent LTV with a £995 fee has also been reduced by 30 bps to 2.29 per cent.
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
