TSB has repriced its residential range with some rates increasing by up to 70 basis points and others reducing by a similar amount.
The biggest changes have been to its shared equity and shared ownership deals.
Among the most substantial rate hikes are the following changes:
- Shared ownership five-year fixed for remortgage up to 80% LTV increased by 70 basis points from 2.39% to 3.09% with no fee
- Shared ownership five-year fixed rate for remortgage up to 85% LTV increased by 65 basis points from 2.49 to 3.14% with no fee
- Shared ownership two-year fixed up to 85% LTV increased by 65 basis points from 2.39% to 3.04% with no fee
- Home movers and first-time buyer five-year fixed up to 60% LTV increased by 25 basis points from 1.54 to 1.79% with no fee
- Home movers and first-time buyer five-year fixed up to 75% LTV increased by 25 basis points from 1.79% to 2.04% with no fee
- A host of other deals have also seen rate increases of between 5 and 20 basis points.
But it was not all bad news for borrowers, as there were some major rate cuts as part of the reprice.
The following were among the most significant reductions:
- Shared equity five-year fixed rate up to 80% LTV cut by 60 basis points from 3.29% to 2.69% with no fee
- Remortgage three-year fix up to 75% LTV with two-year early repayment charge (ERC) and £995 fee cut by 55 basis points from 1.89% to 1.34%. It comes with a choice between £300 cashback or free legals
- Home movers and first-time buyer three-year fix up to 90% LTV with two-year ERC and no fee reduced by 50 basis points from 3.84% to 3.34%
- Shared ownership five-year fix up to 60% LTV cut by 50 basis points from 2.44% to 1.94% with no fee
- Shared equity five-year fix up to 85% LTV cut by 50 basis points from 3.44% to 2.94% with no fee
- A large number of other deals have been reduced by between 5 and 45 basis points
