TSB has launched a new 10-year fixed rate mortgage and reduced the rates of other mortgages by up to 0.25 percentage points.

The new 10 year mortgage is available to homemovers, first time buyers and remortgagees across the whole market with a maximum LTV of 75%, with fixed rates starting from 3.04%.

Meanwhile, TSB’s five-year mortgage range has also seen reductions. First time buyers and homemovers with a LTV of 60-75% will benefit from rate cuts up to 0.25 percentage points. Likewise remortgagees will gain from reductions of up to 0.15 percentage points.

Reductions up to 0.15 percentage points are available for homeowners looking for two-year fixed and tracker mortgages with a LTV of 60-75 percentage points and, those with a LTV up to 80% can benefit from a 0.20 percentage point reduction.

Roland McCormack, TSB Mortgages’ intermediary director, said: “TSB’s new market beating 10-year mortgage offers stability and security for homeowners across Britain, with a fantastic rate to match.

“For people looking for more flexibility and a shorter term, the reductions across TSB’s two, three and five year mortgages will certainly help them feel the difference in their wallet.”