TSB launches new BTL products and cuts rates

TSB has launched a range of new buy-to-let deals and cut rates on many products.

The reductions include a cut in the cost of the 75 per cent LTV two-year fix from 2.24 per cent to 2.19 per cent.

The three-year fixed rate has come down from 2.54 per cent to 2.49 per cent and the five-year fix from 2.64 per cent to 2.59 per cent, both of which are also at 75 per cent LTV .

All three products have a product fee of £995 and are for purchase only.

TSB has also reduced remortgage rates at 75 per cent LTV.

Its two-year fixed rate has come down from 2.24 per cent to 2.14 per cent with a £995 fee, its three-year fix from 2.24 per cent to 2.19 per cent with a £1,995 fee and its five-year fixed rate from 2.49 per cent to 2.44 per cent, also with a £1,995 fee.

All three come with free legals.

New products include a fee-free two-year fix at 2.54 per cent, a three-year fixed at 2.44 per cent with a £995 fee and a five-year fix which is also at 2.44 per cent with a £1,995 fee, all of which are at 75 per cent LTV.

All three new products are for remortgages and include £300 cashback.

The lender has also released a 75 per cent two-year fixed rate tracker at 2.44 per cent with a £995 fee and £300 cashback.

It has also added a 60 per cent LTV two-year fix at 1.59 per cent, with a £1,995 product fee and £300 cashback.

TSB head of mortgages Nick Smith comments: “The interest rate reductions on some of our products is 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.”

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