Tandem, the UK's leading greener digital bank, is committed to refining its residential mortgage offering based on feedback and insights from mortgage advisors. The bank regularly reviews its criteria, policy and rates to meet the specific needs of the mortgage advisors it serves. In response to this insightful feedback, Tandem is excited to unveil its refreshed first charge mortgage range.
The most significant change is within the 90% Loan-to-Value (LTV) range. The refresh of the T1 rate on 2-year and 5-year fixed rates will have a substantial impact on first-time buyers aspiring to step onto the housing ladder. The introduction of a competitive two-year fixed product at 7.59% and a five-year fixed product at 7.14%, with a £1,495 completion fee, can help even more first-time buyers. The maximum loan amounts for these products is £750,000 for up to 80% LTV and £500,000 for 90% LTV.
Also, Tandem offers additional rate discounts across its entire product range for both new purchases and re-mortgages. Borrowers with an Energy Performance Certificate (EPC) rating of A, B, or C can enjoy additional rate reductions of up to 0.3%. This initiative aims to help environmentally conscious homeowners, reflecting Tandem's mission to support UK consumers in transitioning to greener homes, transport, and lifestyles.
Roger Morris, Sales and Distribution Director at Tandem Bank, expressed the importance of the bank's collaborative relationship with mortgage advisors, stating, "We value our symbiotic relationship with mortgage advisors, where we actively seek and listen to feedback. We take prompt actions to tailor our residential offerings around the needs of customers, as voiced by the advisors on the front line. In light of the significant rise in rental charges, especially over the last 24 months, homeownership has become an aspiration for numerous hardworking families across the UK."
Tandem remains dedicated to providing innovative and customer-centric financial solutions, reinforcing its commitment to creating a sustainable and inclusive banking environment.
