TSB launches new BTL product but increases remortgage rates

TSB has introduced a new two-year buy-to-let tracker deal and hiked up rates on several remortgage products.

The new buy-to-let tracker is available for those looking to buy or remortgage a property at a borrowing rate of 2.29% up to 60% loan-to-value (LTV) and 2.44% at up to 75% LTV. The product has an arrangement fee of £995 and comes with free legal costs.

TSB has also announced that it has increased its five-year fixed rate remortgage deal by 10 basis points to 1.94% with a £995 fee at up to 60% LTV. This deal comes with £300 cashback.

There is a no-fee alternative product, also subject to £300 cashback, but the rate on this produced has increased to 2.04%.

The lender has increased its five-year fixed remortgage deals at up to 75% LTV by 5 basis points to 1.99% with a £995 fee and 2.19% for the fee-free product. Both also come with £300 cashback.

Nick Smith, head of mortgages at TSB, said: “The buy-to-let market continues to play a significant role in the UK’s housing market.

“So, from today, we’re delighted to offer our new two-year product to further support landlords looking to remortgage or invest in a property.”

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