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TSB implements changes across its affordable housing range

TSB has shaken up a number of its mortgage products, increasing cashback and pulling some rates up while reducing others.

In terms of cashback the bank is now offering £500 up from £250 across its shared ownership and shared equity remortgage ranges.

Additionally, reductions within the lenders suite of products range across its two-, three-, five- and ten-year house purchase and remortgage offerings, by up to 0.30 per cent. Specifically, the 75-85 per cent LTV ten-year fix purchase product at 2.89 per cent, and the remortgage at the same LTV with a rate of 2.94 per cent have received this cut.

In contrast there have also been increases across the lender’s two-, three- and five-year fixed products in the house purchase and remortgage range by up to 0.25 per cent.

The 60-75 per cent LTV three-year shared ownership house purchase at 2.34 per cent and the 60-75 per cent LTV three-year fix shared equity house purchase at the same rate have increased. Both products have a fee option of £995, which have also received this rise, bringing the rate down to 2.04 per cent.

TSB head of mortgages Nick Smith says: “TSB is committed to helping people to borrow well and the increase in our cashback offer is another step to helping customers do just that.”

This comes after TSB adjusted its BTL product rates last month, launching free valuations for all buy-to-let customers with amendments to selected fixed rate products.

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