TSB has cut rates on a range of 75-90% LTV mortgages available through brokers.
Remortgages have been reduced by up to 0.20 percentage points, whilst home-movers and first time buyers could receive a drop of up to 0.30 percentage points on a three-year fixed rate mortgage.
Two year fixed and tracker mortgages, with an LTV of 75-80% and 80-85%, will be reduced by 0.05 and 0.15 percentage points respectively. Meanwhile, two year fixed mortgages with an LTV of 85-90% will be reduced by 0.20 percentage points.
The biggest rate drop will be for a three year fixed mortgage of 85-90% LTV where home-movers and first time buyers will benefit from a 0.30 percentage point reduction. Other three year fixed mortgages will be reduced by 0.05 percentage points for an LTV of 75-80%, and 0.20 percentage points for an LTV of 80-85%.
Three year stepped fixed mortgages also see a reduction: 0.05 percentage points for mortgages with a 75-80% LTV, and 0.20 percentage points for mortgages of 80-85% and 85-90%.
Customers who opt for a five year mortgage will gain from a rate drop of 0.05 percentage points with a 75-80% LTV, whilst customers with a slightly higher LTV of 80-85% will benefit from a reduction of 0.15 percentage points. Home-movers and first time buyers with a LTV of 85-90% will gain from a rate drop of 0.10 percentage points.
Finally, home-movers and first time buyers looking for a 10-year mortgage through will be able to benefit from a 0.05 percentage point rate drop on mortgages with an 85-90 percent LTV.
Roland McCormack, TSB’s intermediary director, said: “These rate reductions, available through TSB Intermediary, will help to reduce the barriers to home-ownership for local people across the UK by helping them to borrow well.”
