TSB increases rates on three-year fixes

TSB has today increased interest rates on selected three-year fixed rate mortgages for first-time buyers, home movers and remortgage borrowers.

Related topics:  Mortgages
Rozi Jones
19th January 2017
tsb

The increases are across a range of LTV brackets, and the majority of the increases are by 0.10%.

TSB says the adjustments are in line with recent changes in the market.

The Bank will continue to offer £750 cashback for first time buyers and has scrapped mortgage application fees for all customers.

Last month, the Association of Mortgage Intermediaries predicted that mortgage rates would begin to rise in early 2017 as economic uncertainty puts pressure on long-term interest rates.

The Association has found that lenders are conforming to their usual volume patterns and will likely compete hard for business in the final weeks of the year, but warns that this may drop off in Q1 2017 when the reality of swap pricing and prospect of Article 50 being triggered sets in.

Around the same time, HSBC announced that it is increasing the rates of all fixed rate products by between 0.1% to 0.5%. As part of the changes, the Bank has confirmed the removal of its 0.99% two-year fixed rate.

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