TSB has unveiled a new range of remortgage products available to homeowners with small deposits, and cut rates across selected homemover mortgages.
Remortgagors with a loan to value (LTV) of 85-90% will be able to benefit from new two, three, five and 10-year fixed rate mortgages with rates starting from 2.59%.
In addition to the new products, the bank has also cut rates for homemovers with small deposits.
Homemovers looking for a two-year fixed rate mortgage with a LTV of 85-90% will benefit from a 0.10 percentage point reduction from 3.29% to 3.19% with a product fee of £995, or a 0.20 percentage point reduction from 3.79% to 3.59% with no product fee.
Two-year fixed rate mortgages for homemovers with a slightly higher LTV of 90-95% will see a 0.10 percentage point reduction, either with or without a product fee. Similarly homemovers looking for either a three-year or five-year fixed rate mortgage will benefit from a 0.10 percentage point rate cut.
Roland McCormack, TSB mortgage distribution director, said: “Helping people borrow well is exactly what TSB was built to do; today’s new products, focussed on customers with smaller deposits, will help more homeowners do exactly that.
“By cutting rates, TSB is providing more options to more homeowners across Britain, helping them take their next steps on the property ladder.”