TSB has updated its mortgage range with the introduction of two- and three-year fixes, as well as some rate reductions.
The lender launched three-year fixes with no fee for first-time buyers and homemovers at 90-95% loan to value (LTV).
Additionally, TSB has withdrawn three-year fixed first-time buyer and homemover products at the same tier with £1,495 and £495 fees.
It also added two-year fixed remortgage options up to 75% LTV with a £1,495 fee.
For buy-to-let (BTL) borrowers, TSB has launched two- and five-year fixed remortgage products. These will be available at 75-90% LTV with fee-free, £995 fee and £1,995 fee options.
These products will be available from 10 September.
The lender has also lowered rates by as much as 0.4%, with these changes applying to its two-year fixed shared ownership products for first-time buyers and homemovers, as well as two-year fixed shared ownership and shared equity deals.
Its two-year fixed mortgage rates for first-time buyers and homemovers at 60-95% LTV have been lowered by 0.2%, while three-year fixes up to 90% LTV for first-time buyers and homemovers have been cut by 0.13%.
TSB has also reduced rates across five-year fixes for first-time buyers and homemovers by up to 0.15% on deals at 80-90% LTV.
The lender reduced three-year fixed remortgage rates by up to 0.1% and five-year fixed remortgages rates by as much as 0.3%.
Barclays reduces mortgage rates
Barclays has also made reductions to its mortgage pricing by as much as 0.4%.
The changes apply to existing products, such as its purchase-only BTL range. Here, a two-year fixed at 75% LTV with a £1,295 fee has been reduced from 5.68% to 5.28%, while the five-year fixed equivalent has been lowered from 4.72% to 4.32%.
The green alternatives have been lowered from 5.58% to 5.18% and from 4.62% to 4.22%.
Also for BTL borrowers, two- and five-year fixed remortgages with no fee and a £1,795 fee at 60% and 75% LTV have been reduced in pricing.
These now range from 4.26% for a five-year fixed remortgage with a £1,795 fee at 75% LTV to 5.4% for a two-year fixed remortgage at 60% LTV with no fee.
Rate cuts of up to 0.4% have also been made to purchase and remortgage options for BTL borrowers.
Barclays has also lowered rates across its two- and five-year fixed purchase and remortgage deals with a £1,999 fee for residential borrowers.
This includes a five-year fix at 60% LTV, which has been cut from 4.47% to 3.93%, while the two-year fixed alternative has gone down from 5.06% to 4.4%.
The 70% and 75% LTV options within this range have also had rate cuts.
Additionally, Barclays has made rate reductions to its existing customer reward range for both residential and BTL borrowers, including its fixed and tracker rate products.
These changes from TSB and Barclays come after data from Moneyfacts today showed that average mortgage rates were falling and products were available on the market for longer.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
