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TSB hikes rates on mortgages for borrowers with a large deposit

Christina Hoghton
Written By:
Christina Hoghton

The bank has also reduced some rates for those with smaller deposits

TSB has adjusted rates on its mortgages including a 0.45 per cent increase on products at 60 and 75 per cent of the property’s value.

The headline rate changes have been made to the bank’s five-year fixed remortgage products with three year early repayment charges (ERCs).

Options with free legals as well as those without and £300 cashback have been increased to 1.89 per cent at 60 per cent loan to value (LTV) and 2.09 per cent at 60-75 per cent LTV.

Rates on five-year fixed purchase products have increased by 0.30 per cent and now stand at 1.89 per cent at 60 per cent LTV and 1.99 per cent at 60-75 per cent LTV.

Across higher LTV tiers, the bank has made rate cuts.

These include two and five-year fixed rate mortgages at 85-90 per cent LTV which have been reduced by 0.20 per cent.

For fee-free options, the rate for a two-year fixed purchase product is now 2.19 per cent, while the £995 fee paying option is 1.89 per cent.

Five-year fixed equivalents are priced at 2.64 per cent and 2.44 per cent respectively.