This change will apply to employed applicants with a minimum annual income of £75,000, enabling them to borrow with an enhanced LTI up to 90% loan to value (LTV).
TSB has also reduced the maximum income for five-and-a-half times LTI from £100,000 to £75,000 for mainstream residential lending.
Yorkshire BS cuts rates again
Yorkshire Building Society has reduced mortgage rates for the second time in as many weeks, with cuts of up to 0.97%.
Most changes have been made at higher LTV tiers, with headline cuts applied to select 95% LTV deals. Products at between 60% and 90% LTV have been lowered by as much as 0.12%.
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This includes a two-year fixed remortgage at 75% LTV, which has gone down from 4.39% to 4.27%. This has a £995 fee, free standard valuation and remortgage legal services.
At 75% LTV, a two-year fixed purchase product has been cut from 4.56% to 4.44%, with a £495 fee and free standard valuation.
The Yorkshire Building Society five-year fixed purchase option at 80% LTV has reduced from 4.42% to 4.3%. This has a £995 fee and free standard valuation.
Cheryl Bleasdale, product manager at Yorkshire Building Society, said: “We’re delighted to be able to cut our rates again so soon after our last decrease.
“Market rates have provided us with this golden opportunity over the past week and we will continue to watch developments closely and act where we can to help our borrowers save money.”
