"To help people get their foot on the housing ladder, we have made some quite chunky interest rate reductions to our shared ownership range."
The largest reductions are to the lender's 10-year fixed rate remortgage products which have been reduced by 1.30% and are now available at 2.99% between 85-80% LTV with no fee and free legals or £300 cashback.
10-year purchase rates have been reduced by 1.05% between 85-90% LTV to 2.99% and 1.00% between 90-95% LTV to 4.09%, both with no fee.
TSB has also overhauled its shared ownership range with new products and rate reductions of up to 0.25%.
Two and five-year fixed rate shared ownership products are available at 2.14% up to 60% LTV, 2.19% up to 75% LTV and 2.44% up to 85% LTV.
A two-year fixed rate is available at 2.69% up to 90% LTV and a five-year rate starts at 2.84%.
Three-year fixed rates have seen reductions of between 20 and 25bps and now start at 2.14% up to 75% LTV.
New shared ownership remortgage products at between 85-90% LTV have also been launched and start at 2.64% fixed for two years and 2.79% fixed for five years.
Additionally, end dates on all products have been extended to 29th February 2020.
Nick Smith, TSB’s head of mortgages, said: “With the continuing economic and political uncertainty, these changes will be welcomed by many borrowers, particularly those with smaller deposits who are looking to remortgage onto longer term fixed rate products. In addition, to help people get their foot on the housing ladder, we have made some quite chunky interest rate reductions to our shared ownership range.”
