TSB cuts B2L rates by up to 0.40%

TSB store front 700 x 450

TSB is cutting buy-to-let rates for homeowners and remortgagors by up to 0.40 per cent.

The lowest rate announced today is 2.09 per cent, with a £1,995 product fee, for a two-year buy-to-let fixed-rate mortgage at up to 60 per cent LTV.

The lender is also cutting rates on its two-, three- and five-year fixed rate and tracker mortgages, along with giving cashback of £250 available across all of its buy-to-let product range.

TSB also got more than £3bn in mortgage applications from brokers in the first half of 2016, according to its latest accounts.

The lender had £1.9bn in the same period of 2015.

TSB did not give gross lending figures for the H1 period.

Half-year profit before tax at 30 June rose 440 per cent on H1 2015 to £125.4m.

TSB chief executive Paul Pester says: “Looking forward, our mission remains unchanged.

“In an uncertain world, TSB’s solid foundations, plus the additional firepower provided by Sabadell, will support our responsible growth strategy as we continue to make banking better for all UK consumers.”