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TSB cuts mortgage rates by up to 0.4%: "an aggressive move that sends a clear message to the market"

Journalist: Justin Moy, Contributing Editor

ended 09. September 2024

TSB has just announced further rate cuts of up to 0.4% off selected products. Newspage asked brokers for their views, below.

12 responses from the Newspage community

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David Stirling
Independent Financial Advisor at Mint Wealth
TSB have shot out of the blocks this morning and made clear their intentions. Other lenders will take note and we will very likely see more cuts throughout the week. With each set of cuts, borrowers are the winners.
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Ben Perks
Managing Director at Orchard Financial Advisers
The ever tenacious TSB have announced another round of rate cuts to start off the week. This is an aggressive move that sends a clear message to the market: we want to lend. It's over to the competition to cut and keep up now.
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Rohit Kohli
Director at The Mortgage Stop
TSB has shown its confidence by slashing rates by up to 0.4% on products that could potentially help some first-time buyers. Kudos to TSB for taking this leap of faith and we'll be waiting to see how other lenders react to this move.
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Harps Garcha
Director at Brooklyns Financial
TSB has kicked off the week with some sizeable rate cuts, and you can bet other banks will follow suit as swap rates keep sliding. Now that the holidays are done, these steady drops in rates are sure to fire up the housing market.
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Hannah Bashford
Director at Model Financial Solutions
Monday Monopoly in the mortgage market. TSB reducing rates in this manner is like borrowers advancing to go and collecting their £200. Great to see sizeable reductions from a mainstream lender and hopefully a continuing trend. Let the games commence.
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Gabriel McKeown
Head of Macroeconomics at Sad Rabbit - Substack Newsletter
The mortgage market is on fire, and borrowers are basking in the heat. TSB has thrown down the gauntlet, slashing rates across the board and setting the stage for a financial free-for-all.

With rates being slashed, the winds of change are howling, and they're carrying the sweet scent of affordability.
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Simon Bridgland
Director at Charwin Private Clients
TSB open this week's rate headlines with some cracking reductions. These are sure to be eyeballed by the competition as swap rates reduce offering more room for manoeuvre in the battle for top spot.
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Justin Moy
Managing Director at EHF Mortgages
This is an excellent move by TSB, recognising the improving swap pricing and that activity has seen a distinct pick up in recent weeks. The level of rate cut is important and TSB are not holding back, potentially forcing the hands of other lenders in their quest for a strong end to 2024.
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Tony Castle
Managing Director at PFG Mortgages
Great news again to start the week. TSB leading the pack to cut rates. A strong signal that the downward trend in mortgage rates will continue for the short term future.
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Katy Eatenton
Mortgage & Protection Specialist at Eatenton Finance
Great reductions across all products shows TSB are open and eager for business. Hopefully this encourages other mainstream lenders to follow suit
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Rob Gill
Managing Director at Altura Mortgage Finance
Mortgage rates are falling faster than Autumnal leaves, with TSB being the latest lender to cut rates. As sure as Autumn follows Summer, other lenders seem set to follow and continue the recent trend of rate cuts.
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Iain Swatton
Director at Exemplar Financial Services
Another lender is leading the way this week with some great news on mortgage rates. TSB has kicked off the week by announcing cuts of up to 0.4% on selected deals, bringing more competitive options for borrowers. This adds further positive news to the housing market and is great for those looking to remortgage. A strong start to the week.