The TSB rate changes came into force yesterday. On the residential side, its two-year fixed rate first-time buyer and home mover deals between 75 and 90 per cent loan to value have fallen by up to 0.3 per cent.
The lender’s three and five-year fixed first-time buyer and home mover rates have gone down by around 0.35 per cent, while its three-year fixed remortgage rates have contracted by up to 0.45 per cent.
Within its buy-to-let range, its two-year fixed remortgage rates have decreased by 0.5 per cent.
In its product transfer range, two-year buy-to-let fixed rates up to 75 per cent LTV have fallen by 0.5 per cent and residential three and five-year fixed have reduced by 0.7 per cent.
On the additional borrowing side, buy-to-let two-year fixed rates have gone down by 0.5 per cent and residential three and five-year fixed rates have contracted by up to 0.7 per cent.
It is the second time that TSB has lowered rates this month.
Furness brings out holiday let fixed rate deals
Furness has launched two holiday let products which are available for properties across England, Scotland and Wales.
This includes a two-year fixed rate at 65 per cent loan to value (LTV) at 5.99 per cent and 6.19 per cent at 75 per cent LTV.
Both come with a £995 fee, which can be paid up front or added to the mortgage.
There is also a five-year option available at 5.93 per cent at 75 per cent LTV.
Each of the products comes with £250 cashback.
The lender’s holiday let mortgages allow personal use for up to 90 days per year, consider complex and multiple income streams and can be used on an interest-only or repayment basis.
Alasdair McDonald, head of intermediaries at Furness, said: “We are delighted to improve our holiday let range with these new products. We are happy to consider mortgages on an interest-only or repayment basis, and with apply our flexible approach to calculating affordability we believe we have a strong proposition.
“Our unique process means we’re able to consider applications involving complex and multiple income streams. This includes using an element of the gross holiday rental income, as well as personal income.
“Our affordability-based model uses primarily personal income but also factors in 50 per cent of the rental income into the assessment.”
