It has increased rates at this tier as well, with the £995 fee paying option rising by 0.10 per cent to 2.14 per cent, and the fee-free alternative rising by the same to 2.44 per cent.
Other rate changes include the five-year fixed rates with five-year early repayment charge (ERC) periods between 75 and 85 per cent LTV, which have gone up by 0.10 per cent.
Its 10-year fixes for first-time buyers and home movers have declined by up to 0.20 per cent.
The bank has also added two-year tracker mortgages for first-time buyers, house purchase and remortgage borrowers up to 90 per cent LTV.
Rates begin at 1.79 per cent at 60 per cent LTV to 2.34 per cent at 85 to 90 per cent LTV for first-time buyers and home movers, and up to 2.54 per cent for remortgagors.
TSB also added five-year fixes to its new build range for first-time buyers and home movers at 80-85 per cent LTV.
These are fee-free with a rate of 2.49 per cent and five-year early repayment charges (ERCs).
The bank has also withdrawn its five-year fixed rate purchase and remortgage products with three-year ERC periods for buy-to-let borrowers.
Changes come into effect from today.
Furness Building Society
Furness Building Society has launched a pair of buy-to-let mortgages at 80 per cent LTV.
These will be available across England, Wales and Scotland and are fixed for two and five years with respective rates of 2.89 per cent and 3.14 per cent.
There is a £995 fee and no valuation fee for remortgages.
As with all the mutual’s buy-to-let products, affordability will be based on the borrower’s total income not just the interest coverage ratio (ICR) calculation.
Alasdair McDonald, head of intermediaries at Furness Building Society, said: “With the demand for homes to buy higher than the amount of stock available, the appetite for homes to rent is surging as a by-product. Fierce competition is pushing up rent values and we know landlords are looking to expand their portfolios to capitalise on this.
“Our new higher LTV product will enable brokers to help even more of their landlord clients meet their investment aspirations throughout the year. Plus, our usual human-led, flexible approach to underwriting and affordability means we can quickly consider a client’s overall financial proposition as opposed to being held back by ICR requirements.”
