A TSB spokesperson said: “As we prepare to migrate to our new, state-of-the-art banking platform later this year, continuing to deliver excellent service to brokers and customers is really important to us.
In order to do this, we intend to grow our mortgage lending less quickly over the coming months by trimming back some of the products we offer. However, we expect to reverse this slowdown as we reach the end of 2017 and move into 2018."
The Bank has also announced interest rate cuts of up to 0.10% on selected mortgages for residential remortgage borrowers.
Five-year fixed rate mortgages will see rates reduced by 5 and 10bps up to 80% LTV.
Roland McCormack, Mortgage Distribution Director, said: “The interest rate reductions on our five-year fixed rate remortgage product are great news for those looking to fix their monthly payments for a longer period of time. TSB is committed to helping people to borrow well and these rate reductions are an example of us doing exactly that.”
