TSB has cut interest rates by 10 basis points on selected mortgages for home movers, first time buyers and remortgage borrowers.
The following mortgages will receive a rate reduction:
- Five-year fixed rates for home movers, first time buyers and remortgage borrowers (60-85% LTV)
- Two-year fixed rates for remortgage borrowers (60-75% LTV)
- Two-year tracker rates for remortgage borrowers (60-75% LTV)
For home movers and first time buyers in the 85-95% LTV category, they will now receive £250 cash-back.
Roland McCormack, TSB’s mortgage distribution director, said: “We want to help more people to borrow well and today’s rate cuts are good news for those with a higher deposit [60-85% LTV] looking to get a mortgage. Home movers and first time buyers with smaller deposits [85-95% LTV] can get £250 cash-back, which will help with the cost of moving.”
The previous £750 cash-back offer, which was available to first-time buyers in the 75% LTV or above category only, has been removed. All TSB mortgages do not have application fees.