TSB is implementing selected rate cuts across its buy-to-let (BTL), portfolio BTL, product transfer and additional lending ranges, along with shifting product end dates.
Rates for TSB’s BTL two- and five-year fixed home purchase and remortgage loan from 60% to 80% Loan-to-Value (LTV) (BTL 60% to 75% LTV portfolio only) will be reduced by up to 0.80%.
In addition, two-year and five-year residential fixed interest rates with LTV from 0% to 75% will be reduced by up to 0.15% and two-year residential fixed interest rates with LTV from 75% to 85% with a £995 fee will be reduced by 0.05%.
Also in the product transfer range, the two-year BTL fixes between 0% and 75% LTV will be reduced by up to 0.10% and the five-year BTL fixes between 0% and 60% LTV will be reduced by 0.05%.
For additional loans, TSB has reduced prices for its residential two- and five-year interest rates between 0% and 75% LTV by as much as 0.15%.
Also, the lender’s two-year BTL fixes between 0% and 75% LTV have been reduced by up to 0.10%, while the five-year BTL fixes between 0% and 60% LTV have been reduced by 0.05%.
BTL, portfolio BTL, product transfer and additional loan end dates will be pushed back to the end of October.
Meanwhile, Coventry has also announced further rate cuts for intermediaries.
Within the lender’s residential offering, prices for new borrowers will only be reduced for the two- and five-year fixed rates, as well as for all two-year interest rates (excluding 80% LTV remortgages).
Other reductions will be made to the three-year fixed remortgage rate at 90% LTV, the five-year purchase rate at various LTVs and all five-year exclusive interest rates for new buyers will be reduced by 65% to 95% LTV.
For existing borrowers, all two-year fixed interest rates, all three-year fixed interest rates from 65% to 90% LTV, five-year fixed interest rates only, five-year fixed interest rates from 65% to 85% LTV with a fee and five-year fixed interest rates from 90% to 95% LTV will be reduced.
The lender has also made price cuts across its BTL and BTL limited company ranges. For new borrowers, rates will be reduced on all two-year standard and portfolio BTL rates, and for existing borrowers, rates will be reduced on all two-year fixed rates.
Elsewhere, Leek Building Society will implement price cuts on its fixed rate mortgages from tomorrow.
The five-year fixed rate on 90% LTV without residential fees will be reduced by 0.20% to 5.33% and the five-year fixed rate on 95% LTV with a £995 fee will be reduced from 5.46% to 5.31%.
Additionally, the residential two-year fixed at 95% LTV with a £995 fee will be 0.20% less at 5.52% and comes with £400 cashback, while the five-year at 95% LTV with no fees is reduced by 0.20% to 5.45% and has a £400 cashback.
Shared ownership at an LTV of 95% is also reduced with terms of two and five years to 5.41% and 5.26% respectively.
The association will also reduce BTL rates for limited liability LTV by 75%. These include the two- and five-year fixed fee without fees up to 5.63% and 5.48% respectively and the two- and five-year fixed fee of £1,495, which is reduced to 5.31% and 5.39% respectively.
Holiday rental rates with a 75% LTV will be reduced for periods of two and five years with a fee of £999 to 5.36% and 5.37% respectively.