TSB is reducing its interest rates across a range of fixed and tracker-rate mortgages for homeowners, landlords, and those looking to remortgage.
The lender has also increased the maximum loan on selected mortgages to £1m.
The largest rate cut will benefit homeowners with a high loan-to-value of 90 to 95 per cent, who could gain from a 0.41 per cent reduction to TSB’s three-year fixed rate mortgage.
It has been reduced to 3.58 per cent with a £995 product fee.
Homeowners with a lower LTV of 60 to 75 per cent have access to reductions of up to 0.40 per cent, with TSB’s three-year fixed rate mortgage for homeowners at 1.54 per cent, with a £995 product fee.
Homeowners and those remortgaging with an LTV of up to 60 per cent can now apply for a two-year fixed or tracker-rate mortgage with a maximum loan limit of £1m. This has been increased from £500,000.
TSB stated it is revising the rates to maintain its position in the market by helping homeowners to borrow across the property ladder.