Its two-year fixed house purchase rates have been cut by up to 0.1%, including affordable housing rates, while five-year fixed house purchase rates up to 85% loan to value (LTV) have been reduced by 0.05%, also including affordable housing rates.
The two-year fixed rates now start at 3.74% up to 60% LTV with a £995 fee, going up to 4.89% for a fee-free option at 90-95% LTV. Meanwhile, the five-year fix up to 60% LTV with a £995 fee has a rate of 3.99%, going up to 4.34% for the fee-free 80-85% LTV option.
TSB has also made rate reductions of 0.05% across two-year fixed remortgages with a £995 fee up to 75% LTV, and fee-free options between 75% and 85% LTV.
ModaMortgages cuts limited-edition BTL rates
Specialist lender ModaMortgages, part of Chetwood Bank, has reduced two-year fixed limited-edition rates by up to 0.2%.
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Pricing for single-dwelling mortgages at 75% LTV now starts at 2.79%, while 80% LTV rates begin at 3.39%.
Elsewhere, rates for houses in multiple occupation (HMOs) and multi-unit freehold block (MUFB) properties at 75% LTV now begin at 2.99%, applying to properties with up to six bedrooms or units.
Options are open to individual and limited company landlords, with free valuations and varying fee options.
Darrell Walker, group sales director at ModaMortgages, said: “This decision to reduce selected two-year fixed rate limited-edition products is a further demonstration of our intent to support the buy-to-let market.
“We know affordability remains crucial, and this reduction ensures we can offer competitive, well-priced solutions that help landlords plan with greater certainty and support brokers in meeting client demand.”
Stafford BS improves affordability with SVR cut
The Stafford Building Society will lower its standard variable rate (SVR) by 0.25% from 1 March.
This would bring the mutual’s SVR down to 5.1% for residential borrowers, and 7.15% for buy to let (BTL) and holiday let.
The Stafford said this would improve affordability and meant its SVR was among the lowest in the market.
According to Moneyfacts, the average SVR in February was 7.15%.
The Stafford said the SVR reduction was in response to the base rate cut in December, which it said was a sign of a more stable mortgage market.
It also said that, combined with the mutual’s manual underwriting process, some brokers may be able to revisit previously declined cases with the lower SVR, particularly those who fall just outside of affordability.
Laura Lawton, head of mortgages at The Stafford Building Society, said: “This isn’t just a rate cut – it’s about improving real-world affordability.
“Dropping our SVR to 5.1% gives brokers a valuable tool, especially when clients are close to affordability limits. We look at the full picture, not just a formula for responsible lending.”
Lawton added: “For borrowers near affordability thresholds, a 0.25% SVR drop could shift the outcome.
“We remain focused on individual case assessment – especially when conventional models don’t tell the full story.”
