TSB makes a number of changes across its product range

From tomorrow, Friday 1st March, TSB is set to make a number of changes across its residential, buy-to-let and product transfer ranges.

In its residential range, the lender will be increasing rates by 0.10% on its 3-year fixed first-time buyer and home mover product from 0% to 60% and 75% to 90% loan-to-value (LTV).

In addition, its 3-year fixed remortgage from 0% to 75% LTV will be increased by 0.15%.

In its buy-to-let range, TSB will be relaunching its 2- and 5-year fixed house purchase products, from 0% to 75% LTV with zero fee.

The lender will also be withdrawing its residential 10-year fixed products in its product transfer range, and is set to increase 2-, 3- and 5-year fixed product transfers by up to 0.25%.

A number of residential and buy-to-let 2-year product transfers will see reductions, with its residential 2-year tracker from 85% to 90% LTV decreasing by 1.05% and its buy-to-let 2-year fixed 75% to 120% LTV decreasing by up to 0.50%.

In terms of additional borrowing, TSB will be withdrawing residential 10-year fixed products, and increasing residential 2-, 3- and 5-year fixed rates by up to 0.25%.

Nicholas Mendes, head of marketing at John Charcol, said: “5-year money has crept above 4% again, which highlights the uncertain market sentiment in the run-up to next week’s Budget.

“Hunt isn’t expected to make any drastic announcements, but we may still see him pull a rabbit out of the hat given it’s an election year.

“Back to rates, this recent reprice from TSB highlights similar activity amongst lenders, making small adjustments to continue to win business and reducing the impact of higher rates to mortgage holders as much as possible.”