TSB cuts first-time buyer rates by up to 0.70%

Essex Home Finance
TSB has reduced rates across its residential range, including cuts of up to 0.70% on first-time buyer products.
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TSB has reduced rates across its residential range, including cuts of up to 0.70% on first-time buyer products.

First-time buyer two-year fixed rates have reduced by 0.45% and now start from 1.49% between 60-75% LTV and 3.24% between 85-90% LTV.

First-time buyer five-year fixes have reduced by 0.45% to 1.74% up to 75% LTV, by 0.70% to 2.34% between 75-80% LTV, and by 0.30% to 2.94% up to 85% LTV. Between 85-90% LTV rates have been reduced by up to 35bps and now start from 3.44% with a £995 fee or 3.69% fee-free.

Across TSB’s residential purchase range, rates have also been reduced by up to 70bps.

The largest reduction to the lender’s two-year fixed rates are between 60-75% LTV and 85-90% LTV, which have both been cut by 0.45% to 1.49% and 3.24% respectively.

The biggest reduction on five-year fixed rates is at the 75-80% LTV band, where rates have been cut by 70bps to 2.34%. At 80-85% LTV, rates are 30bps lower at 2.94%, while 85-90% LTV products have reduced by up to 35bps and now start from 3.44% with a £995 fee or 3.69% fee-free.

Additionally, five-year fixed rate remortgage products have reduced by between 30-35bps across all LTV bands.

Original Article from Financial Reporter 09/12/2020

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