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"TSB have answered the call to cut rates across the full range of loan-to-value brackets"

ended 15. August 2024

TSB has this morning announced that, from Friday 16 August, it is making rate reductions to its Residential range, including selected Affordable Housing products (rates below). Newspage asked brokers for their thoughts and lenders for their views on overall mortgage demand generally at present.

  • 3 Year Fixed First Time Buyer and Home Mover 60-75%, 80-85% and 90-95% LTV, by up to 0.20%
  • 2 Year Fixed Remortgage 75-80% LTV, by 0.15%
  • 3 Year Fixed Remortgage 60-75% LTV, by 0.07%
  • 5 Year Fixed Remortgage 75-85% LTV, by up to 0.10%
  • Selected Affordable Housing rates, by up to 0.35%

5 responses from the Newspage community

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Ken James
Director at Contractor Mortgage Services
TSB, the bank that likes to say yes, has certainly said that with these latest rate cuts. TSB have answered the call to cut rates across the full range of loan-to-value brackets rather than just focusing on the lower risk lending at 60%. This is a great move by TSB, complementing the already active rate cut activity we are seeing across the board and can only continue to support the much invigorated market.
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Ranald Mitchell
Director at bad credit mortgage specialists Charwin Mortgages
Rate reductions from TSB in the higher loan-to-value (LTV) range are a significant boost for first-time buyers striving to enter the property market. Traditionally, borrowers with smaller deposits have faced steeper costs, but the increased competitiveness at this end of the spectrum signals a positive shift. This is a win-win situation, making homeownership more accessible and affordable for many, and a clear indication that the market is responding to the needs of new buyers.
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Mark Eaton
COO at April Mortgages
Headline inflation increased on Wednesday but the fact that core and services inflation both dropped was a positive. Demand for mortgages remains strong and the property market could be in for a busy autumn period once the school holidays are out of the way. We’ve noticed an uptick in demand in recent weeks as buyers seek to lock into longer term rates to protect against economic uncertainty and give them payment peace of mind.
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Darryl Dhoffer
Founder at The Mortgage Geezer
TSB has been a bit slow in passing on rate reductions to its customers compared to other major lenders. While they have made cuts, it's clear they're playing catch-up in a market where competition is fierce at the moment.
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Stephen Perkins
Managing Director at Yellow Brick Mortgages
Borrowers are getting joy by 1000 cuts. The constant flow of these small rate reductions is adding up to some serious savings for borrowers and could turbocharge the market in the months ahead. With rates expected to continue their gradual decline over the coming weeks and months, it is a much better outlook for borrowers.