15:22 PM, 23rd August 2017, About 5 years ago 5

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Are you getting ripped off by TMB (part of Lloyds). It was bad enough that they got away with putting their interest rates up several years ago, but I have just realised that they didn’t reduce their standard SVR last August when the BOE dropped theirs by 0.25%.

When I enquired why I was told that they didn’t have to, but couldn’t explain why.


Editors Note:

TMB website >>

“This site is here to support existing customers of TMB.

Whilst TMB are no longer accepting new business you can rest assured your current TMB mortgage remains unaffected. If you have any queries please refer to our Questions & Answers or contact us on 0345 725 3253.”


Neil Patterson View Profile

15:25 PM, 23rd August 2017, About 5 years ago

Hi George,

As much as it pains everyone, unfortunately a Standard Variable Rate (SVR) is set at the discretion of the lender and is not forced to track bank base rate 🙁

Monty Bodkin

15:58 PM, 23rd August 2017, About 5 years ago

My TMB reversionary rates dropped to 2.04% last September, same as these;
Worth double checking your T&C's to make sure it is a SVR product.


19:15 PM, 23rd August 2017, About 5 years ago

Bank of Scotland did not drop their rate either

Howard Reuben CeMap CeRER View Profile

9:37 AM, 24th August 2017, About 5 years ago

TMB no longer lend and their remit is to try and retrieve their money quickly, so by not reducing their rates they would be encouraging more people to redeem their loans and remortgage elsewhere.

The good news is that - for most people - the options are indeed out there and that by progressing the remortgage exercise, that they could quite possibly make their portfolios far more cost effective, increase cashflow all by reducing rates with another lender.

Other good news is that you can check the market using the free to use, online and daily updated mortgage sourcing system on Property118 here >

paul thomason View Profile

10:54 AM, 28th August 2017, About 5 years ago

please just move to cheaper lender the morgage works have great rates 2.74 fixed for 5 years

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