TSB slashes interest rates on five-year fixed rate mortgages

TSB bank has reduced their interest rates on their five-year fixed rate mortgages, for residential and re-mortgages, by up to 0.1%.

The bank has further increased the rate on a three-year fixed house purchase mortgage, by 0.2% with a fee of £995.

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A five-year fixed re-mortgage up to 60% LTV has been reduced to 0.1%, house purchases for five-years, from 75% to 85% LTV has been slashed b 0.05%.

TSB’s head of mortgages, Nick Smith said, “We are seeing more and more of our borrowers fixing for a longer period, so these rate reductions will be very welcome for many of our borrowers.”