First-time Buyers

TSB launches mortgages up to 85% of the property’s value

Christina Hoghton
Written By:
Christina Hoghton

Borrowers with smaller deposits are benefitting from a recent increase in choice of mortgage products

TSB has introduced first-time buyer and purchase mortgages up to 85 per cent of the property’s value (known as 85% loan to value).

The lender is now offering fee-free two and five-year fixes for borrowers with a deposit or equity of up to 15 per cent.

Five-year remortgages at up to 80 per cent LTV are also being introduced, as well as two-year remortgages of up to 85 per cent LTV.

Last week TSB cut rates on first-time buyer mortgages as choice at higher LTVs started to widen across the market.

This week Barclays has relaunched 90 per cent LTV mortgages, following Halifax and Virgin Money which both recently came back with 10 per cent deposit deals.