TSB is pulling some two-year fixed rate deals off the shelf on Tuesday – with bank account holders warned. The high street banking giant has confirmed that from 6pm tonight it will be withdrawing is range of two-year fixed products, available at up to 75 per cent loan-to-value, which come with a £995 fee.
The products will be reintroduced, at new price points, on Thursday 26 October. Applications for the products being withdrawn must be in by 6pm today. The firm says that intermediaries must submit existing applications for these products by its 6pm deadline “because they will not be available after this time”.
It warns that its new product guide will not be available until 26 October, meaning that the lender’s “current product guide will be incorrect for a short period”. The business – which is one of the UK’s biggest banks – also “apologises in advance for any inconvenience this causes.”
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Earlier this month, TSB became one of several lenders to cut its home loan rates below five per cent. Elsewhere, Bank of Ireland is also launching new and improved rates on both its standard and bespoke buy-to-let products from 9am Wednesday (25 October) and it means the existing products will be withdrawn at the same time.
The new standard range includes two-year fixed rates at up to 60 per cent LTV for remortgage only beginning at 5.34 per cent with a £2,495 fee, the bank says. For buy-to-let products at up to 75 per cent LTV, rates start at 5.49 per cent on two-year fixed rates or 5.29 per cent on five-year fixed rates.
The bespoke range has rates starting at 5.40 per cent for two-year fixes at up to 60 per cent LTV, or 5.32 per cent for five-year fixed rates at up to 75 per cent LTV.
