TSB Mortgage Product Guides are available here but check the date to ensure it has been updated to reflect the announcements below.
Important News from TSB: Improvements to certifying ID for TSB mortgage applications
From today, 28 February, TSB branches will be able to certify ID for all TSB mortgages, including intermediary applications. This was previously only available to applicants remortgaging to TSB using our free legals service.
If a broker needs to provide certified ID for an application, they’ll no longer be restricted to sending their customer to a Lawyer, Notary, Barrister, or an Accountant who is a member of a UK/EU recognised professional body.
Applicants can now visit a TSB branch to have their documents certified. They can then take these copies directly to their broker to progress their application.
Important news from TSB: increase to maximum loans for 90-95% LTV mortgages and changes to products
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
- 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%
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.