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TSB re-introduces 80 per cent mortgage deals

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Written by: Owain Thomas
10/04/2020
The lender withdrew a swathe of its mortgages as the coronavirus crisis escalated, but is beginning to bring some deals back to the market
TSB re-introduces 80 per cent mortgage deals

TSB has expanded its residential mortgage range back up to 80 per cent of the property’s value, known as the loan to value (LTV) ratio.

The lender has also introduced buy-to-let deals up to a maximum 75 per cent loan to value.

It was forced to slash its range of deals and eventually cut them to a maximum of 60 per cent LTV as a result of the impact of the coronavirus.

From today it has introduced fee free house purchase products up to 75 per cent LTV at two-, five- and 10-year fixed rates.

Both the two- and five-year fixed rates are at 1.89 per cent.

The 10-year deals come with an option of early repayment charges (ERCs) over five or 10 years.

On remortgages it has introduced two-, five- and 10-years fixes at 60-75 per cent LTV and 75-80 per cent LTV bandings.

Rates start at 1.74 per cent.

For the 75-80 per cent LTV 10-year fix, an option is available with Early Repayment Charges for the first five years only.

For buy-to-let landlords, two-, three- and five-year fee free remortgage deals have been added, with rates starting at 2.39 per cent.

TSB head of intermediary mortgages Beverley Bradford said: “We’re making these changes so new customers have a variety of no-fee products to suit their needs.

“We want to assist our customers as much as we can and we will therefore continually assess the market and our product range to ensure we have the most suitable products available for our customers.”

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