TSB reduces selected tracker mortgage rates

TSB reduces selected tracker mortgage rates

TSB has reduced its selected two-year fixed and two-year tracker mortgage rates for home movers, first-time buyers and remortgage clients.

The reductions, will range between 0.05 per cent and 0.25 per cent in what the company said would assist "would-be homeowners and existing borrowers to borrow well". 

The new rates include a two-year fixed rate at 1.89 per cent at 60-75 per cent loan-to-value (LTV) for first-time buyers, a two-year fixed rate at 1.34 per cent at 60-75% LTV for home movers, and a two-year tracker at 1.14 per cent at 0-60 per cent LTV for remortgage customers.

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Roland McCormack, TSB mortgage distribution director, said: “Just a week after we launched our best ever five-year remortgage rate, we’re further helping borrowers by reducing rates across our two-year fixed rate mortgages and two-year tracker mortgages.

"This shows yet again how we are supporting homeowners to borrow well, whether you’re looking to get on the housing ladder or already have your own home.”

The introduction of the rates follows recent announcements from TSB that it has introduced its "best ever" five-year remortgage rate, launched a dedicated mortgage range offering £750 cash-back, and scrapped mortgage application fees across the entire product range.

Matthew Fleming-Duffy, director at Christchurch-based Cherry Finance, said: "The competitiveness of the kind of rates TSB is presenting is a really positive thing, it really puts them up with the best providers and I'd say they're probably in the top five now in that respect.

"Not wishing to sound too cheesy, but there staff offering is also top notch, not that I would pick the friendliness of staff over a more competitive rate from another provider, don't get me wrong, but they're nice to deal with and very helpful."