TSB raises rates on all remortgages

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TSB is raising rates on all its remortgage products by either 0.05 or 0.10 per cent.

The lender’s 1.69 per cent five-year fixed rate at up to 60 per cent LTV with a £995 fee is being raised 0.10 per cent to 1.79 per cent.

A 0.10 per cent rise will also apply to TSB’s five-year fixed rate of 1.79 per cent between 60 and 75 per cent LTV with a £995 fee.

All other loans will see a 0.05 per cent rise.

A TSB spokesman says: “We regularly review our product pricing and sometimes rates go up and sometimes rates go down.”

In May TSB did a similar move, raising some remortgage rates by up to 0.10 per cent.

The lender is currently throttling the amount of lending it does to help it move technology platforms.

In June it announced it would temporarily withdraw its two-year fixed rate mortgages for residential house purchase borrowers between 85 and 95 per cent LTV.

Then in July it announced it had paused lending on loans including its three-year fixed rate house purchase and ten-year fixed rate purchase and remortgage products.

TSB expects to go back to normal lending volumes in late 2017 or early 2018.

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