TSB has announced reductions in mortgage rates across selected residential, product transfer, and additional borrowing products, effective from tomorrow, Wednesday 5th March.
The changes include more competitive fixed-rate offerings for both new and existing customers.
Among the updates is a 2-year fixed rate of 3.99% with a loan-to-value (LTV) of up to 60% and a £1,495 fee, exclusively available to existing TSB customers completing a product transfer.
Within its residential range, TSB is also lowering rates on multiple fixed-rate products.
The 2-year fixed rate for first-time buyers and home movers with 85% to 90% LTV will decrease by 0.10%, while the 3-year fixed rate for those with a 60% to 75% LTV will drop by 0.05%.
Additionally, a 5-year fixed rate for first-time buyers and home movers, from 75% to 90% LTV, will see reductions of up to 0.10%.
For remortgages, the 2-year fixed rate at 60% to 75% LTV will be reduced by 0.05%.
Product transfer rates will also be revised.
The 2-year fixed rate for residential customers with a LTV of 75% and 85% to 90% will be reduced by up to 0.20%, while the 3-year fixed rate will decrease by up to 0.10%.
Additionally, the 5-year fixed rate up to 60% LTV will drop by 0.05%.
Customers seeking additional borrowing will benefit from similar reductions.
The 2-year fixed rate for residential borrowers with a LTV up to 75% will be reduced by up to 0.20%, while the 3-year fixed rate will drop by up to 0.10%.
The 5-year fixed rate for those with a LTV of up to 60% will also decrease by 0.05%.
Customers wishing to apply for the products set to be withdrawn must submit their applications by the end of today, Tuesday 4th March, as these options will no longer be available after this date.
TSB has advised customers and brokers to refer to its support page for guidance on amending products.
The updated product guide will be available for download from the TSB website on 5th March, providing full details of the revised offerings.
