TSB
BankTSB was re-established in 2013 following its separation from Lloyds Banking Group, and is now owned by Sabadell Group. It focuses on straightforward residential mortgage products with competitive rates, positioning itself as a simpler alternative to the larger high street banks.
About TSB
TSB has a long history in UK banking, dating back to the Trustee Savings Bank movement of the 19th century. The bank was merged into Lloyds in 1995 but was re-established as a separate entity in 2013 when Lloyds was required to divest part of its branch network. TSB was floated on the stock market and later acquired by Spain's Banco Sabadell in 2015.
TSB positions itself as a simpler, more straightforward alternative to the larger high street banks. The bank focuses on residential mortgages with competitive rates and a streamlined product range. TSB serves first-time buyers, home movers, and remortgagers through branches and digital channels.
As a mid-sized UK bank, TSB offers a more personal service than some of its larger competitors. The bank has invested in digital banking while maintaining a branch network. TSB is regulated by the FCA and PRA and operates as a ring-fenced bank.
Lending Focus
TSB offers mortgage products across 1 categories including Residential.
Key Features
- Simple, transparent mortgage product range with no hidden fees
- Competitive fixed-rate deals aimed at first-time buyers and home movers
- No arrangement fee options available across key product lines
- Flexible overpayments up to 10% of outstanding balance per year
- In-branch mortgage advice alongside digital application process
Pros & Cons
Pros
- Simple, transparent product range that is easy to understand
- Fee-free mortgage options available across most product lines
- Competitive rates aimed at first-time buyers and home movers
- In-branch advice available alongside digital application tools
Cons
- –No buy-to-let mortgage products available
- –No offset mortgage option
- –Smaller branch network compared to the big four banks
Fees & Charges
- Arrangement Fee
- Fee-free options available; otherwise up to £995
- Valuation Fee
- Free on selected products; otherwise £250–£1,500 depending on property value
- Early Repayment Charge
- 1–5% during the initial deal period
- Overpayment Allowance
- Up to 10% per year without charge
Mortgage Rates
Rate data coming soon. View rates on TSB
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- 2–4 weeks from application to offer
- Online DIP
- Yes — available online
- Offer Valid For
- 6 months
Lending Criteria
- Maximum LTV
- 95%
- Max Loan Amount
- £2m
- Min Loan Amount
- £25k
- Rate Types
- fixed, tracker
Frequently Asked Questions
Does TSB offer buy-to-let mortgages?
No, TSB does not currently offer buy-to-let mortgage products. They focus exclusively on residential mortgages for homeowners.
What is the maximum LTV TSB offers?
TSB offers mortgages up to 95% LTV for residential purchases, meaning you can buy with as little as a 5% deposit.
Can I overpay my TSB mortgage?
Yes, TSB allows overpayments of up to 10% of the outstanding balance per year on most products without incurring early repayment charges.
Does TSB offer fee-free mortgages?
Yes, TSB offers fee-free mortgage products with no arrangement fee. These are available across their fixed-rate and tracker product ranges.
How to Apply
Direct & broker access. Apply directly or via a broker for whole-of-market access. Find a broker
Similar Lenders
View all lenders| Name | Niches | Type | Max LTV |
|---|---|---|---|
| Bank of Ireland UK | Residential, Buy-to-Let | Bank | 90% |
| Barclays | Residential, Buy-to-Let, Commercial | Bank | 95% |
| Co-operative Bank | Residential, Buy-to-Let | Bank | 95% |
| Halifax | Residential, Buy-to-Let, Shared Ownership+1 | Bank | 95% |
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