Company Overview
TSB Bank is a UK retail bank that was re-launched in 2013 as an independent challenger bank following its separation from Lloyds Banking Group. With roots dating back to 1810 as the Trustee Savings Bank, TSB combines traditional banking values with modern technology and a strong commitment to local communities and customer service.
Key Highlights
- Founded in 1810, re-launched as independent bank in 2013
- Customer-focused approach with local banking emphasis
- Over 5 million customers across the UK
- Strong commitment to transparency and fair pricing
- Award-winning customer service and digital innovation
Local Banking Focus
TSB believes in banking that works for local people and communities, combining modern digital services with traditional banking values and personal customer relationships.
Mortgage Products
Residential Mortgages
- Fixed-rate mortgages (2, 3, 5, and 10-year terms)
- Tracker mortgages following Bank of England base rate
- First-time buyer mortgages with low deposit options
- Help to Buy equity loan mortgages
- Shared ownership mortgages
- Remortgage products with competitive rates
- Green mortgages for energy-efficient properties
Special Features
- Fee-free mortgage options available
- Cashback offers on selected products
- Flexible overpayment options without penalties
- Portable mortgages for moving home
- Offset mortgages to reduce interest payments
Customer Focus
Local approach with personal service
Transparent Pricing
Clear fees with no hidden charges
Digital Banking
Modern app and online services
Award-Winning
Recognized for customer service excellence
Key Features & Benefits
Banking Advantages
- Customer-focused approach with local banking values
- Transparent pricing with no hidden fees on many products
- Award-winning customer service and support
- Modern digital banking platform with innovative features
- Strong commitment to fair treatment of customers
- Quick decision-making processes and fast service
Digital Innovation
- User-friendly mobile banking app with full functionality
- Online mortgage application and tracking system
- Digital account management and document upload
- Real-time notifications and spending insights
- Secure messaging and 24/7 customer support
- Online mortgage calculators and planning tools
Advantages
- Strong customer service focus
- Transparent and fair pricing
- Modern digital banking platform
- Quick decision-making processes
- Local banking approach and values
- Award-winning customer satisfaction
Considerations
- Smaller branch network than major banks
- Limited specialist lending products
- Newer independent bank with shorter track record
- May have higher rates on some products
- Less international banking capability
Lending Criteria
Eligibility Requirements
- Age: 18-75 years at application, maximum age 80 at end of term
- Income: Minimum £15,000 per annum for residential mortgages
- Employment: Employed, self-employed, or retired with proof of income
- Residency: UK residents with at least 3 years UK address history
- Deposit: Minimum 5% for residential mortgages
Assessment Criteria
- Maximum loan-to-income ratio of 4.5 times annual income
- Comprehensive affordability assessment including all expenditure
- Credit score and history evaluation with fair approach
- Stress testing at current rate plus 3% buffer
- Property valuation and location assessment
- Individual consideration for unique circumstances