TSB launches 10-year fix and cuts rates

TSB has launched a competitive 10-year fixed rate mortgage and cut rates on other deals by up to 0.25%.

The new 10-year mortgage is available to homemovers, first time buyers and remortgagees up to 75% LTV.

Home movers and first-time buyers will pay 3.04% to 60% LTV with a £995 fee, or 3.14% with no fee.

TSB also charges 3.19% for loans of 60-75% LTV with a £995 fee, or 3.29% with no fee. Rates on remortgages are 0.05% higher.

It has also made reductions to its five-year fixed-rate mortgages.

First-time buyers and homemovers with a LTV of 60-75% will see rate cuts of up to 0.25%. Remortgagees will be cut up to 0.15%.

TSB is also cutting rates by up to 0.15% for homeowners looking for two-year fix.

Tracker mortgages with a LTV of either 60-75% or 80% will enjoy a 0.20% reduction.

Roland McCormack, TSB Mortgages intermediary director, said: “TSB’s new market beating 10-year mortgage offers stability and security for homeowners across Britain, with a fantastic rate to match.

“For people looking for more flexibility and a shorter term, the reductions across TSB’s two, three and five-year mortgages will certainly help them feel the difference in their wallet.”