TSB is slashing mortgage rates by up to 0.4%, and Zephyr Homeloans is also cutting rates on many of its deals. However, Vida Homeloans is repricing its products, so borrowers may need to act quickly to secure their current rates.

TSB Cuts Rates for First-Time Buyers, Home Movers and Shared Ownership

TSB is making significant cuts to its mortgage rates, particularly for shared ownership and shared equity products. Borrowers opting for two-year fixed-rate deals on these products could see their interest rates reduced by as much as 0.4%. Those after a five-year fixed-rate mortgage could enjoy discounts of up to 0.25%.

There are also notable reductions in remortgage rates, with five-year fixes potentially falling by up to 0.3%.

First-time buyers and home movers also benefit from these changes. Two-year fixed-rate deals at 95% loan-to-value (LTV) are set to drop by up to 0.2%. TSB is also introducing fee-free three-year fixed-rate mortgages at 95% LTV for both first-time buyers and home movers. However, some existing deals with fees of £1,495 or £495 will be withdrawn.

Zephyr Joins the Rate Reduction Trend

Zephyr Homeloans has also announced reductions across the majority of its fixed-rate mortgage deals. This includes buy-to-let mortgages, with rates now starting from a competitive 3.44%. In a further boost for borrowers, Zephyr is introducing several fee-free options on both two and five-year fixed-rate mortgages.

Vida Homeloans to Reprice Products

Vida Homeloans has announced that it will be repricing both its residential and buy-to-let mortgage products. Details of the new rates are yet to be released. Borrowers considering a Vida Homeloans mortgage should contact the lender directly to discuss their options.