You are here: Home - News -

TSB ups max loan size, rates and flat lending criteria

by:
  • 04/03/2022
  • 0
TSB ups max loan size, rates and flat lending criteria
High street lender, TSB, has increased the maximum loan size for first-time buyers (FTB) and house purchases at 90 to 95 per cent loan to value (LTV) and upped the rates for a range FTB, house purchase, remortgage, shared equity and buy-to-let (BTL) products by up to 0.5 per cent.

The lender had raised the maximum loan size on its FTB and house purchase residential product at 90 to 95 per cent LTV to £570,000.

TSB has also increased rates on its FTB and house purchase five-year-fixed rates at 60 to 95 per cent LTV by up to 0.25 per cent.

Rates on new build FTB and house purchase five-year fixed rates at 80 to 85 per cent LTV have risen by 0.25 per cent.

TSB’s remortgage five-year fixed rates at 85 to 90 per cent LTV have gone up by 0.35 per cent

New build shared equity FTB and house purchase five-year fixed rates up to 85 per cent LTV have risen by up to 0.50 per cent.

Shared equity FTB and house purchase two and five-year fixed rates have been increased by up to 0.50 per cent and its shared equity remortgage two and five-year fixed rates up to 75 per cent LTV rates have gone up by up to 0.40 per cent.

TSB has increased rates on its two and five-year fixed BTL house purchase and remortgage products up to 75 per cent LTV by up to 0.30 per cent.

TSB has also changed the lending criteria on its lending policy for flats. The lender said it would now accept flats in blocks with balcony or deck access if the property had a maximum of six storeys including the ground floor, secured access at ground floor level and valuer confirmation the property is marketable and mortgageable.

TSB has also added Ark Residential New Build Warranty as an acceptable new build warranty provider and aligned the minimum property value to be £50,000 on both residential and BTL applications.

There are 0 Comment(s)

You may also be interested in