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:
TSB GIVES HOME BUYERS A BOOST AND RE-ENTERS THE 95% LTV MORTGAGE MARKET
TSB is set to offer 95% loan to value (LTV) mortgages to help borrowers.
The new products will be on the market from 8 April and will be available to first-time buyers and home movers.
This latest announcement follows the success of various launches from TSB to help borrowers with their home buying journey over the past year following the impact of the pandemic. This includes being one of the first banks to re-enter the 90% LTV mortgage market last year and the launch of a first-time buyer product range.
The key features of the 95% LTV mortgages are as follows:
– Available for first-time buyers and home-movers
– Customers can borrow up to £500,000
– Product rates and fees will be announced in full ahead of the launch
– Flats and new build homes will continue to be capped at 85% LTV
– Products will be available direct with TSB and via brokers
Nick Smith, TSB’s Head of Mortgages said: “We know that for many first-time buyers, raising a deposit is often the biggest challenge. We were one of the first lenders to return to offering 90% LTV during the pandemic, and we’re pleased to now reintroduce our 95% LTV range giving further options for first-time buyers and those wanting to move home.