TSB has announced rate cuts across select two-year fixed mortgages.
From 8 October, the bank’s two-year fixed deals for first-time buyers and homemovers will be 0.1% lower for options at 85-90% loan to value (LTV).
Rates are now 5.29% for a fee-free deal and 5.14% with a £995 fee.
TSB has also lowered two-year fixed remortgage rates up to 60% LTV by a similar amount. Rates are now 4.19% with a £995 fee and 4.59% with no fee.
The lender has also reintroduced two-year fixed remortgage deals up to 75% LTV with a £1,495 fee. The product is priced at 4.09% up to 60% LTV and 4.34% at 60-75% LTV.
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Virgin Money cuts rates and adds BTL deals
Virgin Money has announced a number of rate reductions across select deals and introduced two buy-to-let (BTL) mortgages.
The newly launched exclusive BTL products include a two-year fix at 60% LTV, priced at 4.19%, and an equivalent at 75% LTV with a rate of 4.39%. Both have a £2,195 fee.
Elsewhere, Virgin Money has cut the rate of its exclusive BTL two-year fix at 60% LTV by 0.25% to 3.57%. This has a 3% fee.
The option at 75% LTV has been lowered by 0.24% to 3.72%.
The exclusive BTL five-year fixed product at 75% LTV with a 3% fee has been reduced by 0.05% to 3.78%.
The lender has also cut mortgage rates across its two-year fixes with a 1% fee by as much as 0.21%, and Fix and Switch rates by up to 0.15%.
Additionally, Virgin Money has lowered select Switch and Fix exclusive remortgage and purchase rates by 0.1%. This applies to the fee-saver remortgage product at 75% LTV, which is now priced at 4.65%, the equivalent at 85% LTV, which has a rate of 5.24%, and the purchase option at 95% LTV, which has a rate of 5.24%.
The bank will also reduce BTL fixed rates with a £995 fee by up to 0.2% to start from 4.19% and select BTL product transfer rates by up to 0.15%, starting from 3.89%.
Further, it has cut its fee-saver two-year fix for BTL borrowers at 75% LTV by 0.02%, bringing it to 5.03%.
For residential borrowers, Virgin Money has cut pricing on its fee-saver purchase deals at 90% LTV by 0.1%, starting from 5.19%, and remortgage fixed rates at 85% and 90% LTV will be lowered by 0.2% to start from 4.44%.
Additionally, 80%, 85% and 90% product transfer rates will begin from 4.41%, after reductions of up to 0.26%.
Halifax launches calculator for further advance
Halifax has announced the addition of a further advance option to its mortgage affordability calculator.
This will enable brokers to check the maximum further advance loan that may be available to clients.
The change comes after Halifax improved its further advance process following broker feedback. This included instant decisioning with a soft footprint credit search and the option to create and review mortgage illustrations instantly.
