TSB cuts buy-to-let rates

TSB has unveiled a number of rate reductions to mortgage products within its buy-to-let range.

Buy-to-let rates have been trimmed by as much as 0.2% in a bid to entice more BTL landlords. 

Highlights include a 75% loan-to-value (LTV) fixed rate product, reduced from 2.49% to 2.29%. 

There is also a 60% LTV two-year tracker from 2.29% to 2.09%, which is subject to a £995 arrangement fee.

Both offerings are for purchase only.

For landlords looking to remortgage a property, TSB has reduced its 60% LTV two-year fix rate product from 1.44% to 1.24%, subject to a £1,995 arrangement fee. 

Meanwhile, the 60% LTV two-year fix has been cut from 2.14% to 1.94%. 

In addition, the 60% LTV two-year tracker, which is for remortgage only, is now available at 2.24%, down from 2.04%, subject to a £995 arrangement fee, while the borrower can choose between free legal fees or £300 cashback.

Nick Smith, head of mortgages at TSB, said: “There is a lot of activity in the BTL market at the moment, so these reductions will prove to be very attractive to either those landlords who are thinking of switching their mortgages or those who are considering entering the market, perhaps for the first time.”

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