From 4 March, TSB is increasing the maximum loan available on 90% to 95% LTV residential mortgages from £500,000 to £570,000.
The increased lending amount will be available to Home Movers and First Time Buyers.
This move will give brokers more options in placing higher LTV business and enable applicants to purchase a property with a smaller deposit or to use the deposit towards a higher valued property.
The lender is also making changes to Residential and Buy to Let product ranges on 4 March, increasing rates on:
Residential
- 5 Year Fixed, 60-95% LTV, First Time Buyer and House Purchase rates by up to 0.25%
- 5 Year Fixed, 80-85% LTV, New Build First Time Buyer and House Purchase rates by 0.25%
- 5 Year Fixed, 85-90% LTV, Remortgage rates by 0.35%
- 5 Year Fixed, 0-85% LTV, New Build Shared Equity First Time Buyer and House Purchase rates by up to 0.50%
- 2 and 5 Year Fixed, 0-85% LTV, Shared Equity First Time Buyer and House Purchase rates by up to 0.50%
- 2 and 5 Year Fixed, 0-75% LTV, Shared Equity Remortgage rates by up to 0.40%
Buy to Let
- 2 and 5 Year Fixed, 0-75% LTV, House Purchase & Remortgage rates by up to 0.30%
The new product guide is attached and is embargoed until 9am on Friday 4 March.
Brokers will be informed of product withdrawals on Wednesday 2 March at 4pm and asked to submit applications for these products by 8pm on Thursday 3 March, as they won’t be available after this time.
Please contact your national account manager if you have any questions.