TSB has increased the maximum loan size for some of its mortgages and slashed interest rates.

The lender has boosted the maximum loan available to £1m on all £1,995 fee products in its two-year fixed and tracker range for homemovers, first-time buyers and remortgagors.

Homemovers and remortgagors with a substantial deposit of 40% or more can also apply for a two-year fixed or tracker-rate mortgage with a maximum loan limit of £1m, doubled from £500,000.

Lower rates

Homemovers, remortgagors and landlords taking out fixed and tracker rate mortgages will benefit from the rate cuts at TSB, with the biggest reduction totalling 0.41%.

Highlights include TSB’s three-year fixed rate at 90-95% loan-to-value (LTV) for homeowners, which will be reduced by 0.41% to a new rate of 3.58% with a £995 product fee.

Homeowners opting for an LTV of 60-75% will see TSB’s three-year fixed rates slashed by 0.40% to 1.54% with a £995 product fee, while its three-year deal for remortgagors will be reduced to 1.64%, also with a £995 product fee.

Borrowers opting for TSB’s shared ownership and shared equity mortgages as two or five-year fixed loans will see rates drop by up to 10bps.

Rates have also been lowered on a range of buy-to-let purchase and remortgage deals by as much as 0.20%.