Back in the day, my parents did everything with the Trustee Savings Bank (TSB), their mortgage, car loans, insurance – I remember my first TSB young savers pass book which came with a (now a collector’s item) Globe TSB Money Box. There was no internet or broker for “shopping around,” they didn’t need to, they had trust!
In 1995, TSB merged with Lloyds and they became Lloyds TSB. In 2009 Lloyds acquired HBOS, (Halifax & Bank of Scotland) and together they became “The Lloyds Banking Group,” dropping the TSB name altogether. Somewhere down the line we had the credit crunch and we all developed a loathing of banks, whom we no longer trusted.
Fast forward a few years and (although retaining a large stake), at the end of 2014, Lloyds put TSB up for sale on the Stock Exchange, as a stand alone bank. Not a bad move, the brand emerges relatively unscathed from the financial crisis.
As an Independent Mortgage Broker, I am a massive fan of new lenders joining the UK mortgage market, it keeps the other banks awake and forces competition. More competition = better deals for you and me!
TSB haven’t disappointed. They smashed into the mortgage market with an incredible 1.49% 2 year fixed rate mortgage for borrowers with a 60% deposit. If you can’t quite stretch to that, a 20% deposit will get you 2.29% fixed for 2 years!
Pretty good rates to kick off with, but as we now live in the 21st century, I would advise anyone looking for a mortgage to find themselves a good independent mortgage adviser and do all the shopping around you need!
Recent posts
Reasons to get a Buy to Let Mortgage
2 days ago
Following recent changes in the Buy to Let market, some investors may find this product less appealing. However, if done correctly, building a buy to let portfolio can be very profitable.
Stamp duty: how is it changing in 2025?
15 days ago
Helping you understand the upcoming changes in stamp duty (SDLT) from April 2025.
UK homebuyers and homeowners are hoping for stability in 2025.
We are hoping that mortgage rates will ease this year, but how drastically depends on inflation trends, swap rates, and the Bank of England’s decisions in which way the base rate should go.
Budgeting over the Christmas Period
3 Dec 2024
The most wonderful time of the year can easily turn into the most expensive time of the year. Watching the pennies doesn’t mean that the Christmas festivities have to stop, following a few budgeting tips can mean you still have a special Christmas and don’t go into the new year in debt.
Preparing your home to sell in winter
29 Nov 2024
December is usually a less desirable time to buy as many people don’t want to move over the holidays. However, prospective buyers do start to look at this time. Selling your home in winter may require a bit of extra attention to showcase your property at its best.
We look at why mortgage rates increased following the Bank of England's choice to reduce the bank rate, and should you fix now?
UK 2024 Autumn Budget: Housing
30 Oct 2024
On 30th October 2024 the Chancellor, Rachel Reeves delivered the Autumn budget which we had previously been warned would be “difficult”. Below we have summarised the main housing points.
Talking about money with kids
23 Oct 2024
In an increasingly cashless society, money is an intangible concept for children to grasp. In the days of coins and notes, kids could see money as something physical you require to purchase goods and services.
In order to help teach your children about money, we have listed some tips below;
More information
Trusted by
