TSB launches buy-to-let remortgage products and cuts rates

Michael Lloyd

April 3, 2019

TSB has launched buy-to-let remortgage products with a £300 cashback offer, and has reduced rates on selected products by up to 0.10%.

There are 2-year fixes from 60% to 75% loan-to-value (LTV), including a 2.14% with a product fee of £995, a 1.84% with a £1,995 product fee and a 2.54% without a product fee.

Nick Smith, TSB’s head of mortgages, said: “TSB is committed to helping customers to borrow well and the introduction of our new buy-to-let products with a £300 cashback offer or free legal fees is another step to helping landlords do just that.

“The interest rate reductions on some of our products is also great news for landlords looking to guarantee their mortgage repayments for a set period of time, allowing them to better plan their investments, through our intermediary channels.”

At the same LTV range of 60-75% at 3-year fixed there’s a 2.19% with a £1,995 product fee, 2.44% with a £995 product fee and 2.69% without a product fee.

In addition, at the same LTV range but at 5-year fixed there’s a 2.44% with a £1,995 product fee, a 2.59% with a £995 product fee and 2.74% without a product fee.

For 2-year trackers there’s a 2.29% deal up to 60% LTV and a 2.44% available from 60% to 75% LTV. Both come with a £995 product fee.

The current buy-to-let remortgage 2-year fixed range is between 60% to 75% LTV, comes with free legals and saw rate reductions. The 1.94% with a £1,995 product fee was cut to 1.84%, the 2.24% with a £995 product fee was decreased to 2.14% and without a fee, the 2.59% was reduced to 2.54%.

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