Effective from 15 November, TSB will raise mortgage rates across various products.
- Residential mortgages will see a 0.20% rate increase for certain fixed terms.
- Buy-to-let mortgages will incur a 0.30% rise in fixed rates for specific terms.
- Product transfers for existing customers will face up to a 0.10% hike in rates.
- Additional borrowing options will also have increased rates for selected terms.
From 15 November, TSB will implement rate increases across its mortgage products. These adjustments will affect residential, buy-to-let, product transfer, and additional borrowing categories, impacting both new and existing customers.
Residential mortgage rates will increase by up to 0.20% on 3-year fixed terms for first-time buyers and home movers. Furthermore, a similar rise will apply to remortgages within a loan-to-value (LTV) range of 0% to 75%. Notably, Shared Ownership and Shared Equity products will face increases of up to 0.30%.
The buy-to-let sector will not be spared; customers engaging in 2- or 5-year fixed house purchase loans will encounter a 0.30% rate hike. The same applies to remortgage products at LTVs up to 75%, reflecting a broader market adjustment prompted by demand within the rental sector.
For those transferring existing products with TSB, residential 2-, 3-, and 5-year fixed options up to 75% LTV will see rates increase by 0.10%. Buy-to-let customers utilising a 5-year fixed product transfer plan with LTVs between 60% and 75% will experience a similar rise.
Additionally, TSB will implement a 0.10% increase on certain additional borrowing products for both residential and buy-to-let fixed-rate options. These changes underscore TSB’s response to shifting market conditions and align rate offerings with current economic trends.
These rate increases by TSB reflect ongoing adjustments in the mortgage market.
