TSB has changed its homeowner and landlord variable mortgage rates today (14 August).
The high street bank says its homeowner variable rate moves to 8.74%, while its buy-to-let variable rate is now 9.59%.
The move follows the Bank of England’s base rate rise by 25bps to 5.25% earlier this month, its 14th consecutive rise taking it to the highest level for 15 years.
The central bank is battling inflation, which dropped to 7.9% in the year to June from 8.7%, but still remain almost four times higher than its 2% target.
However, lenders say swap rates have fallen from their early July peak, allowing many of them to cut rates.
Halifax, Nationwide, HSBC and TSB are among other major lenders to have cut their fixed-rate home loans last week.
Meanwhile, fixed-rate prices remain largely stable this morning.
The average two-year fixed residential mortgage rate is down 1bp to 6.79%, unchanged from Friday, according to Moneyfacts.
The average five-year fixed residential mortgage rate is 6.28%, unchanged from the previous working day.
The average two-year fixed BTL mortgage rate is 6.66%, unchanged from Friday.
While the average five-year fixed BTL mortgage rate is 6.51%, unchanged from the previous working day.
