TSB launches breathing space mortgage
TSB said the cost of doing up a ne property prompted it to offer a mortgage with lower initial monthly payments which “will assist homeowners and first-time buyers alike”.
The mortgages are available to first-time buyers and those wishing to move home.
Ian Ramsden, director of mortgages at TSB, said: “We know the first year after moving can often be expensive as people make their house a home. Offering homebuyers some breathing space on their mortgage during the first year will give them the support to achieve this.
“Helping people get a foot onto the property ladder is a fundamental part of creating thriving local economies, and people thriving across the country is what we call, local banking for Britain.”
In December 2014 TSB launched its Fix and Flex mortgage range offering clients a fixed rate over 10 years and allowing homeowners to remain flexible by enabling them to refinance or leave the mortgage after five years without having to pay an early repayment charge.