Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
TSB, Precise, and Kent Reliance Announce Rate Cuts for Mortgages and Buy-to-Let
TSB is set to reduce mortgage rates by up to 25 basis points from tomorrow, according to Mortgage Strategy. Precise and Kent Reliance are also lowering prices, though details of their changes have not been disclosed.
TSB will implement significant reductions across its residential remortgage products. Three- and five-year fixed rates for remortgage will decrease by up to 25 basis points, while two-year remortgage rates will fall by up to 20 basis points. For purchase products, five-year fixed rates—including some 95% loan-to-value (LTV) deals—will be cut by up to 15 basis points, and two-year fixes for purchase, including high LTVs, will drop by up to 10 basis points.
Buy-to-let and portfolio buy-to-let borrowers at TSB will also see selected purchase, remortgage, and product transfer deals reduced by up to 10 basis points. These changes follow recent rate cuts by NatWest, Halifax, and BM Solutions.
Precise and Kent Reliance are set to lower rates on residential and buy-to-let product transfer deals from tomorrow, but have not yet provided specific details.
These rate adjustments may be relevant for letting agents and inventory clerks monitoring mortgage market trends, particularly for clients considering remortgaging or expanding buy-to-let portfolios.
Source: Mortgage Strategy