TSB is offering £250 cashback to all landlords on completion of the mortgage across its two, three and five-year fixed terms, as well as two-year tracker buy-to-let products available directly and through TSB Intermediary.
The bank, which increased its buy-to-let interest coverage ratio from 125% to 145% last week, also made cuts across its buy-to-let range, with landlords looking for a two-year fixed rate now offered a 0.25% reduction to 2.34%, with a £1,995 product fee.
Those looking for a five-year fixed rate also get a 0.25% rate cut to 3.14%, with a £1,995 product fee.
Roland McCormack, mortgage distribution director of TSB, said: “Not only are we reducing rates, maintaining TSB’s competitive position in the market, but we are also bucking the trend by introducing £250 cashback across our buy-to-let range.”
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