TSB withdraws 80-85% LTV products

TSB has announced the withdrawal of its two and five-year fixed rate purchase and remortgage products at 80-85% LTV.

Related topics:  Mortgages
Rozi Jones
11th June 2020
TSB

The suspension also applies to TSB's 80% and 85% LTV shared ownership and shared equity purchase and remortgage ranges.

Other withdrawals within the lender's residential range include three-year fixed rate purchase and remortgage products, 10-year fixed rates between 75% and 85% LTV, and two and five-year remortgage products with a £1,495 fee.

This week, a number of lenders have temporarily suspended their higher-LTV mortgage products due to overwhelming demand.

On Monday, Accord temporarily withdrew all products at 90% LTV to maintain service levels after seeing "higher than expected volumes of applications", followed by Clydesdale Bank and Virgin Money on Tuesday.

Yesterday, Ipswich Building Society became the latest lender to temporarily withdraw its 90% LTV mortgage products.

However Coventry for intermediaries announced that it is re-entering the 90% LTV market, introducing two five-year fixed rate products at 90% LTV for new business on Friday.

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