TSB offer to pay borrowers Council Tax
TSB found that, after a mortgage payment, paying for Council Tax is the biggest monthly expenditure for 55% of people.
By contrast, almost one in eight said their second largest monthly payment goes towards their electricity bill (12%), whilst one in ten (10%) said it’s their gas bill.
When it comes to new homeowners’ financial concerns, paying Council Tax is the third most common worry with a fifth (20%) stating this is top of their list.
This was topped by unexpected costs such as the boiler breaking (33%) and unknown running costs such as estimating the amount of new utility bills (32%).
Ian Ramsden, TSB mortgages director, said: “There are many costs associated with buying a new home, so by covering the cost of Council Tax in the first year, TSB can help to ease the financial burden for new home owners.
“We want to put money back in to people’s pockets so they can spend it on other creature comforts for their new abode.
“Helping people take that first step and climb future rungs up the property ladder is a fundamental part of creating thriving local economies.
“And people thriving all over Britain is what TSB’s local banking for Britain is all about.”
TSB’s Council Tax offer is available to both first-time buyers and home movers up to a maximum of £2,500 on mortgages over 75% and up to 90% loan to value.