View more on these topics

TSB Intermediary opens distribution

TSB Intermediary has opened up its distribution to nine major distributors and 73 directly authorised firms.

The new intermediary arm of TSB Bank has finished piloting its intermediary offering with London & Country and now offers its products through Sesame, Intrinsic, LSL, Legal & General, Connells, PTFS, Mortgage Advice Bureau, Mortgage Intelligence and Tenet. TSB plans to be whole-of-market later this year.

It is paying 0.4 per cent to ARs and 0.33 per cent to DA firms for completed residential applications. It also plans to enter the buy-to-let market later in the year. The lender adds it will not dual-price.

Products in the TSB range include a fee-free 10-year fix up to 85 per cent LTV at 4.29 per cent, with early repayment charges applied only for the first five years. A 60 per cent LTV version is offered at 3.44 per cent.

A 60 per cent LTV two-year fixed rate is offered at 1.49 per cent with a £1,995 fee. A 90 per cent LTV two-year fix is priced at 3.39 per cent, with a reduced £995 fee.

TSB intermediary director Roland McCormack says: “TSB was born to bring competition to the market and we will be a substantial intermediary player. We’re dedicated to providing a great service to brokers and competitive mortgages for their customers.”

The TSB brand was created in September 2013 when Lloyds Banking Group floated 631 branches to comply with European Commission requirements.

Recommended

Fixed-Income-Portfolio-Coins-Pounds-Growth-700x450.jpg

Lloyds and RBS ‘do not plan’ to copy Barclays’ LTI cap

Lloyds Banking Group and Royal Bank of Scotland have stated they have no plans to follow Barclays in applying blanket LTI caps. Last week, Mortgage Strategy revealed Barclays had limited all mortgage applications to 4.5 times income, regardless of salary or the LTV. Previously, the maximum LTI available was determined by a borrower’s salary and […]

CaptionCompetition_280115

Caption Competition – 28 January 2015

Can you put the boot into your nearest and dearest to win a delicious box of Hotel Chocolat milk chocolates? Submit a witty caption for the photo above and you will be automatically entered into our prize draw. Remember, the funnier it is, the more likely you are to win. What are you waiting for? […]

aviva-reception-building-2013-700.jpg

Aviva confirms 1,500 job cuts in wake of Friends merger

Aviva is preparing to cut 1,500 roles from the new company created following the planned merger with Friends Life In a note sent by the insurer to shareholders ahead of its March annual general meeting, Aviva says the cuts – out of a combined workforce of around 31,500 – will be part of cost savings “in […]