TSB will increase its five-year fixed house purchase and remortgage rates by up to 0.5 per cent from today and has made changes to its income policy criteria.
For movers and first-time buyers, five-year fixed rates will start from 5.99 per cent with no fee and 5.79 per cent with a £995 fee. This is at 60 per cent loan to value (LTV).
On the remortgage side, five-year fixed rates at 60 per cent LTV with a £995 fee are priced from 5.79 per cent and with no-fee the rate is 5.99 per cent.
TSB also updated its maximum loan to income (LTI) multiple for employed customers earning more that £100,000 to 5.5 times income for loans over 85 per cent LTV.
For loans under 85 per cent LTV, the maximum LTI has increased to 4.49 times income.
The lender has also increased its maximum loan to value for new builds from 85 per cent LTV to 90 per cent LTV subject to credit score.
TSB said that cases started prior to 13 July will benefit from maximum LTI change, but this was not the case for new build. If pipeline cases wanted to be subject to the LTV increase, then the application would need to be resubmitted.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
