Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

TSB and Together Announce Mortgage Rate Reductions

TSB and Together have both announced reductions to selected mortgage rates, with the new rates coming into effect from 22 May 2026. The changes impact a range of products, including residential mortgages, affordable housing, and bridging loans.

TSB has reduced selected mortgage rates for residential borrowers. The lender has cut two-year fixed house purchase rates, including affordable housing products, by 0.05%. The two-year fixed rate up to 60% loan to value (LTV) with a £995 fee is now set at 4.54%, while the fee-free option is 4.94%. For higher LTVs of 90-95%, the equivalent rates are 5.34% and 5.64% respectively.

Additionally, TSB has reduced its three-year fixed purchase rates by up to 0.2%. Two-year fixed remortgage rates up to 75% LTV, including affordable housing, have been cut by up to 0.1%. These changes follow similar rate reductions made by Barclays and Santander earlier in the week.

Specialist lender Together has also announced rate reductions across selected product ranges. This includes a 0.02% reduction in selected unregulated bridging rates, mainly across lower LTV bandings for loans above £100,000. Headline rates for these products now start from 0.83%. The bridging product is available on loans between £26,000 and £5 million, secured against residential, commercial, and semi-commercial properties.

Together has also reduced rates on its regulated first charge retention products for existing borrowers. The two-year fixed rate up to 65% LTV has been cut by 0.55% to 7.85%, and the five-year fixed rate has been reduced by 0.24% to 7.75%.

These changes may be relevant to letting agents and inventory clerks monitoring mortgage market trends, as rate adjustments can influence landlord and investor activity in the UK property sector.