Effective from tomorrow (Friday 15th December), TSB has reduced selected residential, product transfer and additional borrowing rates.
The lender also introduced new 3-year fixed rates at 95% loan-to-value (LTV), available to first-time buyers and home movers.
In addition, for first-time buyers, all of the lenders’ products will now revert to a follow-on tracker lower than its current HVR.
This move aims to reduce the total amount payable over the lifetime of the mortgage, and provide additional assistance in helping new borrowers onto the property ladder.
In its residential range, TSB is reducing rates on its 3-year fixed first-time buyer and home mover products by up to 0.35%, and its 2-year fixed remortgage zero to 75% LTV products by 0.05%.
As for its product transfer options, the lender will also reduce rates across its residential 2-year fixed zero to 75% LTV products by 0.10%.
Rates will also be cut across its additional borrowing residential 2 year fixed deals from zero to 75% LTV.
