TSB has introduced a series of changes to its mortgage products, which will take effect from tomorrow, Thursday 13th February.
Among the key updates, the bank has reintroduced its 5-year fixed first-time buyer and home mover products with a loan-to-value (LTV) ratio of 90% to 95%.
These products offer competitive rates starting from 5.39% and include a cashback incentive of £500 for eligible customers.
In addition to product reintroductions, TSB has implemented rate reductions across several of its mortgage offerings.
The 2-year fixed first-time buyer and home mover mortgage with a LTV of 0% to 75% has decreased by up to 0.10%, while the same mortgage with a LTV of 90% to 95% has reduced by 0.10%.
The 2-year fixed remortgage product with an LTV of 0% to 75% has seen a reduction of up to 0.15%, and the 5-year fixed remortgage product with a LTV of 0% to 75% has decreased by 0.10%.
These adjustments follow the recent change in the Bank of England base rate, which was lowered from 4.75% to 4.50% on the 6th February.
In response, TSB has also revised its variable and tracker rates for new customers, effective from 10th February.
The updated homeowner variable rate is now 7.99%, while the buy-to-let variable rate stands at 8.84%.
Tracker rates have been reduced by 0.25%.
To facilitate a smooth transition, TSB has advised that existing applications for withdrawn products must be submitted by the end of Wednesday, 12th February, as these products will no longer be available thereafter.
