"Fix and Flex offers our customers the comfort of a fixed monthly payment with the ability to leave their mortgage deal after three years"
TSB has launched a five-year Fix and Flex Mortgage up to 80% LTV to help homeowners in the wake of Covid-19.
The Fix and Flex mortgage allows borrowers to refinance or leave the mortgage after three years, without having to pay an early repayment charge.
Rates start from 1.99% with no product or application fees.
TSB’s Fix and Flex will be available for residential remortgage customers from today and will be available for both first-time buyers and home movers from 17th July.
This new product comes at a time when almost 40% of Brits are worried about their finances since Covid-19 began earlier this year, according to new research from TSB.
Roland McCormack, TSB’s director of mortgages, said: “We understand that now, more than ever, people’s circumstances can change. Fix and Flex offers our customers the comfort of a fixed monthly payment with the ability to leave their mortgage deal after three years, without having to worry about an early repayment charge.
"We want our customers to feel money confident and more in charge of their finances when they bank with us and this new product is designed to help them do exactly that.”