TSB pauses lending on some three- and ten-year fixes

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TSB has paused lending on loans including its three-year fixed rate house purchase and ten-year fixed rate purchase and remortgage products.

The firm has made the decision to slow down its lending to help it move onto a new banking platform later this year.

A TSB spokesperson says: “However, we expect to reverse this slowdown as we reach the end of 2017 and move into 2018.”

Last month TSB withdrew some two-year fixed rate mortgages for the same reason.

TSB has also cut the interest rate by 0.10 per cent on its five-year fixed rate at 60-75 per cent LTV for residential remortgage borrowers.

The rate is now 1.79 per cent with a £995 fee.

TSB mortgage distribution director Roland McCormack says: “The interest rate reduction on our five-year fixed rate remortgage product is a welcome step for those looking to fix their monthly payments for a longer period of time.”