TSB has unveiled updates to its residential and affordable housing mortgage offerings, including rate changes and the relaunch of its affordable housing range.
These changes, which include the integration of shared ownership and shared equity products under one code, introduce new features such as £995 fee options for purchases.
The bank has increased rates on various residential mortgage products. This includes a rise of 0.10% for 2-year fixed mortgages for first-time buyers and home movers at 0-75% loan-to-value (LTV) with a £995 fee.
Three-year fixed mortgages for the same borrower types at 0-75% LTV will see a 0.15% increase, while 5-year fixed mortgages at 75-85% LTV with a £995 fee will also rise by 0.10%. Rates for 2-year fixed remortgages at 0-75% LTV will increase by 0.15%.
TSB’s relaunched affordable housing range now combines shared ownership and shared equity products.
Rates start at 4.44%, offering greater simplicity and accessibility for borrowers. New features include a 2-year fixed remortgage with no fees and £500 cashback, along with 2- and 5-year fixed options for first-time buyers and home movers with a choice of no fee or a £995 fee.
Additionally, shared ownership products above 85% LTV now include £500 cashback. To align with TSB’s standard residential product offerings, first-time buyer and home mover products within the affordable housing range at 0-85% LTV will no longer include the £500 cashback.
