Best TSB mortgage deals
Whether you're an existing customer or first-time buyer, compare the best mortgage interest rates from TSB with our comparison tool below. To see what rate you could be offered, create a free Tembo plan.
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What type of mortgages does TSB offer?
TSB offers a decent range of mortgage products, including fixed rate, variable rate and tracker mortgages. This includes 5% deposit mortgages (95% Loan to Value) for first-time buyers, as well as up to 90% LTV mortgages for remortgagers if your mortgage amount doesn't change, or 85% LTV if you want to increase your borrowing. For Buy to Let customers, TSB also offer new and existing landlords loans up to 80% LTV - however you must be at least 25 years old and earn over £25,000 a year to be eligible.
Keep in mind that your LTV, loan amount and mortgage rate will also be influenced by your affordability, credit score, deposit size and if you meet TSB's eligibility criteria.
How much could I borrow from TSB?
Like most mortgage lenders, TSB offers a range of mortgage products with different eligibility criteria. How much you could borrow for a mortgage depends on which products you're eligible for, your household income and deposit, and other factors like your credit score, employment type, and outgoings. Typically you can borrow between 4-4.5 times your income, although with their standard residential mortgage TSB can offer applicants with a single or joint salary of £40,000 or more 4.75 times their household income.
By creating a free Tembo plan, you can see what you could be offered for a mortgage by TSB and other providers without applying.
Can I make overpayments on a TSB mortgage?
Yes, if you currently have a TSB mortgage and you're on a fixed or tracker rate product, you can overpay by up to 10% of your outstanding loan balance, although some mortgage products have higher limits. Anything above this 10% threshold, you will have to pay an Early Repayment Charge (ERC) on.
So for example, if you have an outstanding mortgage balance of £180,000, this would mean you can overpay by a maximum of £18,000 without being hit by an ERC.
TSB is a good all-rounder. While they may not be the biggest lender, they are a recognisable and respected name. Plus, they offer up to 4.75x your income on residential mortgages if you're a higher earner. However, in comparison to other providers TSB do not offer as many specialist schemes. So if you need help getting on the ladder, they might not be the right provider for you.
Andy Shead
Senior Mortgage Advisor at Tembo
Are TSB a good lender?
TSB is the 10th largest mortgage lender in the UK and is part of the bigger Spanish banking group Sabadell. It has a reputation for offering good customer service, with a high 4.2 stars out of 5 from over 21,000 reviews on Trustpilot, which is unusual for a large lender in comparison to other providers like Santander, Nationwide, and HSBC.
However, while they do offer shared ownership and Right to Buy mortgages, TSB offer fewer mortgage options in comparison to other lenders. For those struggling to get on the ladder or remortgage to a new deal, this might mean TSB isn't the best choice if you need something more niche. As with any lender, whether TSB is the right mortgage lender for you depends on your affordability and individual circumstances, what mortgage products you're eligible for, and what the market is currently like. An expert mortgage broker like Tembo can help you navigate these factors to ensure you get the best mortgage deal for you.
Does TSB offer guarantor mortgages?
TSB does not offer guarantor home loans such as Joint Borrower Sole Proprietor mortgages (a.k.a an Income Boost) or Savings as Security mortgages. But they do accept gifted deposits if you have a family member who wants to give you a cash sum to help towards your downpayment, or use a Deposit Boost to unlock money from their home. If you need to boost what you can borrow, TSB also can offer borrowers with a single or joint salary of at least £40,000 up to 4.75x their annual income through their standard residential mortgage, rather than the normal 4-4.5x. Remeber - this is subject to you passing their affordability criteria.
Whether their products are right for you and your family depends on your individual affordability, as well as what mortgage products you qualify for. Working with a mortgage advisor can help you navigate lenders' different eligibility criteria and find the best deal for you from TSB and other lenders on the market.
Looking for a new mortgage?
First home
Unsure which mortgage deal to go for? Buying your first home can be confusing and overwhelming. Get help from the experts.
Remortgage
Coming to the end of your current deal? Remortgage onto a new one with our help. We'll show you whether you should stay with the same lender, or switch.
Moving home
Upsizing to your forever home? Or maybe you're downsizing to something more manageable. Whatever your reason for moving, we can help you find the best deal for you.
Buy to Let
Thinking of becoming a landlord? We can help you discover the best buy to let mortgage deal for you and how you could boost your mortgage affordability.
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The application process
4 simple steps to buying your first home or remortgaging
Make a Tembo plan
Check your eligibility for a range of mortgages and buying schemes, and get a personalised recommendation with interest rates and repayments in under 10-minutes.
Talk to an expert
Book a call with our experts to complete the qualification process, and we’ll cover off any questions you might have about any of the mortgage deals and budget-boosting schemes we advise on.
Apply for your new deal
Next, your dedicated advisor will undertake full affordability checks to prepare the mortgage application. Then we’ll submit it on your behalf!
Make home happen
Your Tembo advisor will be on hand to ensure everything runs smoothly, so you can move onto your new deal as quickly as possible.
