• COVID-19 Support

    To help our customers during these challenging times, TSB is providing the following support:

    Income assessment

    We’ve made temporary changes to the way we assess customer income for residential mortgages (excludes BTL). This will be for new and pipeline applications.

    Latest update November 2020

    Income multiple

    • We’ve permanently reduced the maximum loan-to-income multiple for >85% LTV lending, where the total income is more than £40,000, from 4.5 to 4.49.

    Self-employed policy

    • We’ve temporarily introduced new lending criteria for self-employed customers.
    • Maximum loan-to-value is now capped at 75% and maximum loan to income at 4.25 times income for applications.
    • TSB requires at least 2 years’ of finalised business income documentation for all self-employed applicants.

    These changes will help us balance the needs of new and existing customers, who may be impacted by Covid-19, and allow us to deliver a responsible approach to help our customers borrow well.

    Follow this link more information about Covid-19 Income assessment

    Note: Overtime, Bonus and Commission is not currently accepted towards affordability calculation when assessing the maximum loan available to the applicant.

    85-90% Loan to Value Lending

    85-90% LTV:

    • Houses and bungalows only
    • Maximum term 30 years.


    • LTV restricted to 75% where any customer is keyed as self-employed.
    • Maximum term 30 years.
    • Maximum loan to income multiple of 4.25 times income for applications where any customer is self-employed

    Mortgage repayment holidays

    If customers have been impacted directly or indirectly by Coronavirus (Covid-19) they may be able to apply for a repayment holiday. Find out more about Repayment Holidays – COVID-19 Impacted Customers Mortgage Repayment Holidays.

    For more information about support for mortgage customers please visit tsb.co.uk.

    Rate Switch during payment holidays

    We’ve temporarily removed our restrictions on customers applying for a Rate Switch during a payment holiday.

    We’ll write to customers to let them know their payments will be recalculated once the payment holiday has ended.

    Further information can be found at tsb.co.uk.


    Valuers based in England are now able to travel and gain safe access to properties if they follow the Government guidance around Social Distancing. If we cannot value by Automated Mortgage Valuations (AVMs) or Desktop we’ll undertake physical valuations from May 2020, wherever possible.

    In March we introduced desktop valuations in addition to AVMs. We’ll continue to value properties remotely where possible, without any inspection. This means some properties will be valued faster, avoiding delays.

    House Purchase

    We’ve introduced AVMs on selected house purchase applications, subject to criteria. Failed AVMs will be supported by desktop valuations, where possible.


    AVMs continue to support Residential Remortgage lending up to 85%. Desktop valuations apply to the following, subject to property risk criteria:

    • Residential like for like Remortgage lending up to 85% LTV (subject to product availability)
    • Residential capital raise Remortgage lending up to 85% LTV

    Applications which cannot be valued by AVM or desktop will be upgraded to internal valuations, these include:

    • >£1.5m value property inner M25 (>£1m outside M25)
    • >£500k loan amount
    • BTL
    • New build
    • Non-standard construction
    • Shared ownership
    • Unencumbered
    • Larger than one acre

    Re-valuations – existing customers

    For valuations expiring on or after 1 July 2020 and not previously extended because of coronavirus, we’ll re-confirm with our valuers that the valuation is still valid and extend the valuation expiry date accordingly. If we’re unable to re-confirm the property value, a new physical valuation will be instructed.

    For applications where the property valuation has already been extended because of coronavirus, we’ll have written to customers to let them know a re-valuation has not taken place and the value of the property could be different to when we first valued it. The valuation expiry date will then be extended to match the date of the mortgage offer, and any subsequent mortgage offer extensions.  

    Capital Raising

    We currently have products available for Residential up to 85% LTV and Buy To Let up to 75% LTV.

    ID&V Verification

    We’ve temporarily adapted the current ID&V process for all mortgage applications to allow a scan or photo as proof of ID, and address. And, we’ve removed the requirement for a close-up photo (selfie) of the applicant’s face.

    All you need to do is ask your customers to send the required documentation to you via email:

    • A scan or photo of acceptable proof of ID and proof of address documents.
    • And a photo of themselves holding their ID and proof of address documents facing the camera. It must be clear it’s the same person when checking it against the ID document they are holding

    Once you compare the scan/photo of the ID documents and the people, and can verify they are authentic, you can upload the files to TSB Mortgage Pro. This will be accepted as certified ID verification.

    Proc Fees

    To provide some extra support to our brokers we’ve temporarily reduced the number of days between our BACs proc fee payments by up to seven days.

    We’ve adjusted our fortnightly proc fee payments to now be paid within 7 to 10 days of the application completion date.

    This new temporary payment process is already in place and will continue to be reviewed in the coming weeks.

    Mortgage Offer Extensions

    We’ve made some temporary changes to our Mortgage Offer Extensions policy.

    Here’s a summary of the changes:

    Offer Extension Details Impact/Action

    4 weeks

    (As per standard policy)

    No standard requirement to re-assess credit worthiness, affordability, income verification, policy. 

    Please note: If income has reduced permanently or temporarily and/or applicant is on Covid-19 Government scheme (Coronavirus Job Retention Scheme or Coronavirus Self-employment Income Support Scheme), the application will be referred to our Underwriting team for assessment.

    3 months

    (As per UK Finance guidance where a customer has already exchanged contracts)

    Applies to house purchases only where the customer has already exchanged contracts. Where applicable, verification of exchange of contracts via confirmation from the conveyancer (email/letter previously sent to customer containing conveyancer confirmation of exchange of contracts is acceptable).

    No standard requirement to re-assess credit worthiness, affordability, income verification, policy. 

    6 months

    (As per new build policy where a customer has not exchanged but there have been delays due to Covid-19)

    Where a customer has not exchanged but has been delayed due to Covid-19, we will allow 6 months offer extension: This applies to House Purchase or Re-mortgage applications where the customer has not already exchanged contracts and delays due to coronavirus mean the customer cannot complete within the original 6-month offer validity period.

    We will reassess the credit, affordability, income verification and policy.

    Follow this link for more information about Covid-19: Mortgage Offer Extensions.