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TSB cuts buy-to-let mortgage rates

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Landlords can access a wide range of mortgages at new lower rates of interest
TSB cuts buy-to-let mortgage rates

TSB and Vida Homeloans are cutting interest rates on their buy-to-let mortgages by up to half a percentage point.

TSB is making the changes to its purchase and remortgage deals with £1,995 and £995 fee options.

The two-year fixes in its 60 per cent and 75 per cent loan to value (LTV) tiers have been cut by 0.3 percentage points.

For example, the 60 per cent deal with a £1,995 fee is now 1.49 per cent, while the £995 fee product is now 1.69 per cent. The 75 per cent mortgages are 1.69 per cent and 1.89 per cent respectively.

In its five-year fixes, the 60 per cent LTV products have been reduced by up to 0.10 percentage points, to 1.74 per cent and 1.89 per cent respectively.

TSB has also made some rate changes to its product transfer range.

Vida Homeloans

Meanwhile, Vida Homeloans, which sells its mortgages through mortgage brokers, has reduced its Vida 1 range of buy-to-let products by up to half percentage point.

The two-year fixes are now at 2.99 per cent for 70 per cent mortgages and 3.14 per cent for 75 per cent deals.

And the five-year fixes are 3.39 per cent and 3.49 per cent at 70 per cent and 75 per cent of the property’s value respectively.

The products are available for purchase and remortgage and on single family dwellings, but not for expats.

Vida has continued to complete purchases on its buy-to-let range but has paused purchases applications for residential deals to help service cases before the stamp duty holiday deadline of 31 March.

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